Social studies is a huge part of the elementary curriculum. Without social studies, elementary students would have a huge gap in their knowledge content. Economics is responsible for providing a large amount of information to students. For third graders, the North Carolina Department of Public Instruction places economics under goal five. Goal five divides communities and the basic economic principles into seven objectives. The first objective for third grade economics asks for students to understand the definition of scarcity and be able to provide examples. In order to understand scarcity, students must first understand the difference between a want and a need. A want is something that you wish to possess but is not necessary for survival. Some examples of wants include a laptop, a new sofa, or a big-screen television. A need is something that you must have to live. Some examples of needs include water, shelter, and food. Scarcity deals with the fact that, as humans, we have an unlimited number of wants and needs. However, the earth’s resources are limited and that creates an issue. In today’s world, we use a lot of trees for paper, furniture, and wood. Unfortunately, trees are a depleting resource, meaning there is a limited amount of them which results in scarcity. The concept can apply to any object that consumers buy, as well. Let’s say that Toyota is only making five hundred cars that run completely off of battery. Everyone would want one, but there are only five hundred creating the concept of scarcity because there is not enough to go around. The concept of scarcity impacts the production, distribution, and consumption of goods and services. The ability of students to explain its impact is covered under the second...
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...letion of “The Communist Manifesto” which told why capitalism would fall and be replaced by socialism. With all the above considered, it is easy to see that economics is an important step in assuring success for the students. It is detrimental to the third grade curriculum.
Works Cited
McEachern, W. (2008). Contemporary economics . Mason, Ohio: Thomson South-Western.
Nc standard course of study. (n.d.). Retrieved from http://www.ncpublicschools.org/curriculum/
Remy, R. (2008). Civics today : citizenship, economics, & you . New York: Glencoe/McGraw-Hill.
Schiller, B. (2011). Essentials of economics . New York: McGraw- Hill.
Sowell, T. (n.d.). Basic economics. Retrieved from http://www.altfeldinc.com/pdfs/BASICECONOMICS.pdf
Three big names in economics. (n.d.). Retrieved from http://www.scribd.com/doc/37183209/Three-Big-Names-in-Economics
Let’s begin with the theory of Scarcity. The concept of demand is directly relatable to the scarcity of an item. Let’s look at Jackson Pollock’s work for example. If only 20 paintings were available created by Jackson Pollock, there would be a much greater demand than if you could purchase them easily at your local art gallery.
Jobs, Charles. "Peakonomics: toward a case typology for increasing undergraduate economics literacy and concept retention." Journal of Economics and Economic Education Research 9.1 (2008): 19+.General OneFile. Web. 17 Feb. 2014.
The Communist Manifesto responded to the situation and created a vision of an equal communist society. The Communist Manifesto was defined by the abolishment of the bourgeois sovereign rule that followed a revolution against capitalism to create communism. This is because it allowed for the emergence of the powerful Bourgeoise, "In one word, for exploitation, veiled by religious and political illusions, naked, shameless, direct, brutal exploitation.” As Marx explained, the Bourgeois exploited the Proletariats through the means of the long hours the laborers had to endure to receive very low wages, which maximized Bourgeois profits.
The word “communism” is generally linked with “Marxism”. Since Marx along with Friedrich Engels published the cutting-edge thesis, The Communist Manifesto in the middle of the 19th century, it conceived the new dimension for both politics and economics. Before turning to the principles of the Manifesto, it is useful to present the brief historical background of the era, and understand why it affected the ideology. Predominantly the Industrial Revolution (IR) and the Great Revolution in France (FR) transformed the society as follows; creation of conditions for capitalism by destroying feudalism. Period between 1820 -1840 marks the beginning of the IR, which altered the whole meantime s...
In The Communist Manifesto written by Karl Marx and Friedrich Engels, the two German philosophers saw history as the struggle between the working class and the Bourgeois, or middle class (textbook 708). The Communist Manifesto was written in 1848, during the peak of the Industrial Revolution, a time when the Bourgeois made huge profits in manufacturing at the expense of the working class. According to Marx and Engels, the fruits of the Industrial Revolution created a new class of the oppressed modern working class, the Proletariat, which had never before existed because it was neither like serfdom or slave hood in that it was dependent on the Bourgeois to hire them for wage labor. This was the class the two philosophers envisioned would set off a revolution that would overthrow capitalism to end the perpetual class struggle and create a fair society known as Communism.
Wildlife tourism has become a particularly popular trend over the years. Riding on elephants, taking pictures with lions, swimming with dolphins are only a few of the adventurous and thrilling activities that wildlife tourism provides. Even my own school is planning a trip to South Africa to participate in several of the enthralling ventures.
The "Communist Manifesto" Mountain View College Reader. Neuleib, Janice. A. Cain S., of Kathleen. Ruffus, Stephen. The.
In his Manifesto of the Communist Party Karl Marx created a radical theory revolving not around the man made institution of government itself, but around the ever present guiding vice of man that is materialism and the economic classes that stemmed from it. By unfolding the relat...
The Communist Manifesto made the oppressed people aware of their status and called them to unite. It did this by outlining the history of classes and class struggle. The Communist Manifesto stated that society and history are shaped by class struggles and that two classes were present in 1848, the bourgeois and the proletariat. The document goes on to state that the bourgeois had created capitalism and were oppressing the proletariat.[1] Marx defines the proletariat as “an appendage of the machine”. [2] He recognized how the proletariats were being exploited and he brought it to the attention of the public. Not only does the Communist Manifesto point out that the proletariats were being exploited, it went a step further and called the proletariats to action. He called the working class the revolutionary class and told them that they had the power to fight the bourgeois.[3] The Communist Manifesto forced the Proletariats to recognize their exploitation. As a result the attitude of the proletariat was changed. Proof that the proletariats attitudes were changed comes from the widespread uprising of revolutions in Europe that followed the publication of the Communist Manifesto.
Scarcity can describe any item or service which cannot be obtained equally by every individual. The benefit of scarcity in persuasion is it shows the value of making a decision based on not only what stands to be gained, but also what may be lost. McLean describes reminding a customer that a product or service may be limited in availability as a method of employing scarcity, demonstrating to the customer that they may lose their chance if they aren’t convinced before someone else comes along (2010).
Marx, Karl, and Friedrich Engels. The Communist Manifesto. Trans. Paul M. Sweeny. New York: Monthly Review Press, 1998.
The second section of The Communist Manifesto is the section in which Karl Marx attempts to offer rebuttals to popular criticisms of his theory of governance. These explanations are based upon the supposition that capitalists cannot make informed observations upon communism as they are unable to look past their capitalist upbringing and that capitalists only seek to exploit others. Though the logic behind these suppositions are flawed, Marx does make some valid points concerning the uprising of the proletariat.
The demand of a product or service represents the quantity desired by buyers. In other words, demand is the quantity of a product or service that people are keen to purchase at a certain price. The law of demand affirm that, if all other factors don’t alter, the higher the price of a product, the less buyers will demand it. This happens because, as price increases, so does the opportunity cost of buying that product. Consequently, people would avoid buying a good that would force them to forgo something else they value more. However, there are other factors beyond price that determine the demand in a market, such as consumer income, tastes and fashions, the price of alternative and/or complementary goods, sociocultural factors, among others. The relationship between price and quantity demanded is known as the demand relationship, which is shown in the diagram, where the demand curve is a downward slope.
In terms of persuasion, scarcity is a tool that can communicate to an audience what they gain but also what they lose. In my opinion, it gives the audience information and more control to make an informed and effective decision (McLean, 2010, p. 538-539).
The market price of a good is determined by both the supply and demand for it. In the world today supply and demand is perhaps one of the most fundamental principles that exists for economics and the backbone of a market economy. Supply is represented by how much the market can offer. The quantity supplied refers to the amount of a certain good that producers are willing to supply for a certain demand price. What determines this interconnection is how much of a good or service is supplied to the market or otherwise known as the supply relationship or supply schedule which is graphically represented by the supply curve. In demand the schedule is depicted graphically as the demand curve which represents the amount of goods that buyers are willing and able to purchase at various prices, assuming all other non-price factors remain the same. The demand curve is almost always represented as downwards-sloping, meaning that as price decreases, consumers will buy more of the good. Just as the supply curves reflect marginal cost curves, demand curves can be described as marginal utility curves. The main determinants of individual demand are the price of the good, level of income, personal tastes, the population, government policies, the price of substitute goods, and the price of complementary goods.