Vocabulary:

product
price
place
promotion
profit
supply
demand
manufacture

Dear Parents,
Our fourth Unit of Inquiry examines economics and the role of
supply and demand in our lives. All of us make purchases on
a daily basis without giving much thought, if any, to the
process of production, of marketing, and why certain products
sell while others do not. The students will have an opportunity
in this unit to examine these points through the hands on
experience of creating and selling their own products at a
school souk market.

bargain

Transdisciplinary Theme: How We Organize Ourselves

goods
services

To inquire into the following: An inquiry into the

purchase
order
advertise
buy
sell
trade
invest
market
buyers remorse

Central Idea: Economic activity relies on systems of

production, and the exchange and consumption of
goods and services.

interconnectedness of human-made systems and communities;

the structure and function of organizations; societal decisionmaking; economic activities and their impact on humankind and
the environment.

Key Concepts:
Function
Connection
Responsibility
Learner Profile:
Balanced
Principled
Lines of Inquiry:
Students will understand
The role of supply and demand
The distribution of goods and services
Our responsibility as consumers

Teacher Questions:
What needs to be considered when organizing a market?
What influences the availability of a product to purchase?
How are products priced and marketed to make a profit?

Here is the Summative Assessment for the Unit:

G.R.A.S.P.
Goal: You will make, market and sell products for profit at a GIS Souk Market.
Role: You are a merchant selling a product you have created at a market.
Audience: PYP students of various grades, teachers and parents.
Product, performance, purpose: You will be responsible for creating your own product that you
believe is useful in some way to consumers. You will also be responsible for working in groups
to create this product and to find a way to successfully market it at our grade five souk.
At Home:
To further your childs understanding you can:
-Discuss where manufactured items come from and the raw materials used to produce them.
-Discuss different forms of advertising and their effectiveness.
- Speak with he or she about what are the determining factors in your own purchases of both
large and small items. (Quality, price, impulse buy?)
- Discuss previous purchases that you either regretted (buyers remorse) or that you felt were
particularly good decisions and why.
-Share any knowledge you have in the business world relating to supply and demand or the
production and distribution of goods.

Here are the curriculum strands that will be covered over this Unit of Inquiry:
Language:

Use context (e.g., cause/effect relationships and comparisons in text) as a clue to the
meaning of a word or phrase.
Consult reference materials (dictionaries, glossaries, thesauruses) both print and digital
to find the pronunciation and determine or clarify the precise meaning of key words and
phrases.

Reading:

Determine the meaning of general academic and domain-specific words and phrases in
a text relevant to a grade 5 topic or subject area.
Engage effectively in a range of collaborative discussions with partners on grade level
appropriate topics and texts, building on others ideas and expressing their own clearly.
Use context to confirm or self-correct word recognition and understanding, rereading as
necessary.
Pose and respond to specific questions to clarify or follow-up on information and make
comments that contribute to the discussion and link to the remarks of others.
Conduct short research projects that use several sources to build knowledge through
investigation of different aspects of a topic.

Writing:

Report on a topic or text, or present an opinion, sequencing ideas logically and using
appropriate facts and relevant, descriptive details, speaking clearly at an
understandable pace.
Write informative/explanatory texts to examine a topic and convey ideas and
information clearly.
Use precise language and domain-specific vocabulary to inform about or explain the
topic.
Produce clear and coherent writing in which the development and organization are
appropriate to task, purpose, and audience.

Math:

Solve word problems involving division of whole numbers leading to answers in the
form of fractions or mixed numbers.

Write simple expressions that record calculations with numbers, and interpret
numerical expressions without evaluating them.
Identify when a calculation involving larger numbers can be solved mentally.
Solve word problems involving addition and subtraction of fractions referring to the
same whole, including cases of unlike denominators
Convert among different sized standard measurement units within a given
measurement system (cm to m) and use these conversions in solving multi-step realworld problems

Social Studies:

Identify why particular locations are used for certain activities.