2023 RMC Lemonade ES Money Lesson : simplebooklet.com

Lesson Plan By:Lynne F. Stoverstoverlf@jmu.eduSTORY SYNOPSIS: From New York Times bestselling author GideonSterer is an imaginative, colorful tale of making(and selling!) lemonade from life’s lemons is nottoo sour and not too sweet.One scorching hot summer day, a spunky younggirl decides to sell lemonade . . . only to find thereare too many other young entrepreneurs on herstreet with the same idea. So she sets off with herlemonade stand and ends up at the river’s edge,where she discovers a most unexpected, quirky,and very thirsty clientele.It Began With LemonadeBy Gideon Sterer | Illustrated by Lian ChoPenguin Random House/2021

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Lesson Plan By:Lynne F. Stoverstoverlf@jmu.eduBook- It Began with Lemonade by Gideon Sterer Visual: What is Money?Document camera or projection tool Optional: What is Money Assessment Writing toolsOptional: It Began with Lemonade Activity cards (run offon cardstock)The student will understand The student will understand that supply is how much ofsomething that is available.Barter – The exchange of goods and services withoutthe use of money.Entrepreneurs - People who recognize opportunity andassume the risk to start new businesses.Goods – Material things that provide for wants.Examples include shoes, cookies, and booksMoney – Anything widely accepted in exchange forgoods and services; a medium of exchange.Services – Actions that satisfy people’s wants. Examplesinclude a(n) oil change, haircut, or music concert.INTRODUCTION: When our young entrepreneur starts selling lemonadeto her thirsty riverbank customers, she receives all kindof items in exchange. But did she make any money? In this lesson, students will learn the answer. GRADE LEVEL: K-3TIME ALLOCATION: 25-30 minutesMATERIALS:OBJECTIVES: ECONOMIC CONCEPTS:

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Reading Makes Cents 2023-2024It Began with Lemonade Money at the Lemonade StandLesson Plan By:Lynne Stover stoverlf@jmu.eduLauren Shifflett shiffllh@jmu.edu VIRGINIA STANDARD OF LEARNING- HISTORY AND SOCIAL SCIENCEThe student will apply history and social science skills to demonstrate anunderstanding of primary economic principles by (a) describing ways people workto earn and save money to buy the things they need and want.The student will apply history and social science skills to explain how individualmake economic choices to meet their basic needs by (c) describing ways peoplework to earn and save money to purchase goods and services.The student will apply history and social studies skills to understand basiceconomic principles by (c) distinguishing between the use of barter and the use ofmoney in the exchange for goods and services and describing how money makestrading easier than barter. The student will apply history and social science skills to explain the basic principlesof (a) defining production, distribution, and consumption of goods and services.K.81.8 2.133.10 1.2.3.PROCEDURE:Prepare the materials prior to class. Make a copy of the visual and run off theappropriate number of activity sheetsIntroduce the lesson by reading It Began with Lemonade by Gideon Stere to thestudents. A YouTube reading of the book can be found here:https://www.youtube.com/watch?v=ks8RoWkkV9EIntroduce the lesson by showing the last illustration in the book depicting theyoung girl dreaming about her future and surrounded by all of the items she wasgiven by the river creatures in exchange for her lemonade. Ask the students if theythink she is happy with all of her new treasures. (They will likely say yes as she has asmile on her face and if dreaming of all the things she can buy in the future.) Askthe students if they can calculate how much money she earned selling herlemonade. (This will be difficult as many of the items she received, while likely tohave monetary value, were not actually money.)

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Lesson Plan By:Lynne Stover stoverlf@jmu.eduLauren Shifflett shiffllh@jmu.edu Reading Makes Cents 2023-2024It Began with Lemonade Money at the Lemonade StandCoins and Paper Currency circulated by a government meet all the criteria for thedefinition of money. Store Coupons are not money. The coupon itself has no monetary value. While aconsumer may use the coupon to reduce the amount of money that must be paid, thecoupon itself cannot be redeemed for cash. Checks are considered money. When a person writes a check, they are instructing theirbank to transfer money from their bank account to the designated business orindividual. Debit Cards are considered money. They function in the same way checks function.(However, Credit Cards are not considered money. They function as loans that will bepaid for in the future.) A Piggy Bank is not considered money. It is a holder of money, not to confused withthe money that it contains. Tell the students that money is what we agree to use in exchange for goods and servicesand that it has certain traits and characteristics. Explain that this is what they will learnabout in this lesson. Display visual. Review characteristics of money with the students. Solicit answersconcerning the What is Money chart. Answers: Tell the students that before people used money, they bartered, or traded things that hadto get the goods or services they wanted. For example, if a person wanted a piece of cloth,they may agree to trade 10 jars of apple butter for it. Bartering was not simple because theperson with the cloth may not want any apple butter. Money was invented to make iteasier for buyers (consumers) and sellers (producers) to exchange for goods and services. Ask the students why they think the young girl was willing to trade or barter her lemonadefor things that were not considered money. [Possible responses: She liked the items thatthey offered her. She plans to trade the items for other things. She plans to sell the itemsand therefore, get money for them.) 4.5.6.7.PROCEDURE:PART I Answers: 1.D, 2.C, 3.E, 4. B, 5. APART II Encourage students to share their answers with the class. Encourage discussion. ASSESSMENT: The provided assessment checks for student understanding.

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Lesson Plan By:Lynne Stover stoverlf@jmu.eduLauren Shifflett shiffllh@jmu.edu Reading Makes Cents 2023-2024It Began with Lemonade Money at the Lemonade StandMoney/Not Money Sort: Show the students the It Began with Lemonade cards, one at atime. Ask the students to classify each card as Money or Not Money. As the students answer,ask them to use what they have recently learned to validate their responses.Concentration: Two sets of It Began with Lemonade cards run off on the same color of paperare needed for this game. Divide the students in groups of two to four students. Each groupgets an envelope containing the twenty-four cards. On the outside of the envelope printthese directions:Take cards from envelope and shuffle them.Lay the cards face down on the table.Take turns turning over two cards at a time. If the cards match, keep them and go again. If they do not match replace them.Repeat until all pairs have been matchedThe player with the most cards wins!Ranking: Students use their knowledge of the bartered items depicted on the cards to rankthem in a specific order. Allow students to compare their selections and discuss theirdecisions for card ranking. Possible categories include:Most Valuable to Least Valuable Biggest to SmallestLightest to Heaviest Oldest to Newest Research: Challenge students select one of the It Began with Lemonade cards and write fivefascinating facts they discovered about it in an informational text. They are to cite theirresource and share their findings with the class. EXTENSION ACTIVITIES:The illustrations on the twelve It Began with Lemonade cards represent the items that weretraded or bartered for cups of lemonade. They can be used for extension activities. Examplesinclude:

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Divisible — easily divided into small parts; we can make changePortable — easy to carry or move aroundAcceptable — people are willing to use it to save and spendScarce — difficult to obtain and to copy; people can’t just make their ownDurable — able to withstand the wear and tear of many people using itStable — value must remain almost the same over long periods of timeMoney is anything a society agrees can be used in the exchange of goods and services.Money has these characteristics: Coins andpaper currencyYes or No?Why?Store CouponsYes or No?Why?ChecksYes or No?Why?Debit CardYes or No?Why?Piggy BankYes or No?Why?Reading Makes Cents 2023-2024It Began with Lemonade Money at the Lemonade Stand Visual- What is Money?Lesson Plan By:Lynne Stover stoverlf@jmu.edu & Lauren Shifflett shiffllh@jmu.edu Which of these things would be considered money?

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Lesson Plan By:Lynne Stover stoverlf@jmu.edu & Lauren Shifflett shiffllh@jmu.edu Reading Makes Cents 2023-2024It Began with Lemonade Money at the Lemonade Stand___Acceptable A. difficult to get and to copy ___Portable B. can be divided___Durable C. easy to carry around___Divisible D. people are willing to use it ___Scarce E. can last a long time PART IThe Characteristics of MoneyMatch the correct word to its description.1.2.3.4.5.PART IIWhat do we use as money?List or draw three things we use to purchase goods and services. 1.2.3. Assessment- What is Money?

2023 RMC Lemonade ES Money Lesson

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