Welcome to the ETC (Elf Training Center)!

Here you will learn the importance of economics in order to become one of Santa's special helpers! There are 6 things you must learn in order to pass the "Elf Exam": consumers/producers, types of resources, goods/services, scarcity/economic choices, wants/needs, and barter/money. Good luck, trainee!

*Start by printing and filling out an application {here}.

I. Consumers and Producers

consumer: someone who buys something

producer: someone who makes something​

Trainee Videos:




Producer/Consumer Sort (Do you know your stuff?)

How is this student a consumer? Who are the producers in this video? (Hint: Look at the products!)

II. Goods/Services

Goods: things people want to buy

Services: when someone does something for you

Brain Pop Jr: Goods and Services
Goods and Services Farm
Interactive Quiz
Interactive Sort
Goods and Services Sorts (Seasons)

Elf Trainee Activity: You will create a North Pole village and divide the stores into two streets: Goods Street and Services Avenue. Your head trainer will provide the templates for you to create your village, as well as the names of your shops.


III. Types of Resources

natural: from nature (water, soil, wood, coal)

capital: tool made by man to help (hammers, computers, trucks, lawn mowers, factory buildings)

human: people (farmers, miners, builders, painters)

Let's check out other factories and what they use to produce goods. Have your sticky notes ready! Write down at least one example of a natural, capital, and human resources as you see it! You will then share these with the class.

Production Videos

Elf Trainee Activity 1: Using a flip book, record the examples from your sticky notes.

Elf Trainee Activity 2: You will sort examples of resources into the correct type (capital, human, natural).

Elf Trainee Activity 3: You will create a triorama about the 3 different types of resources. Be sure to include 3 -5 pictures as well as words for examples. Make it colorful and neat - we want to see how creative you can be!

IV. Scarcity/Economic Choices

Scarcity: not having enough of something

Why do people have to make economic choices?

  • when resources and goods and services are limited, you may have to make a choice!

Elf Trainee Activity 1: Play "Musical Chairs" with your classmates. What do you have a scarcity of each time? What other things in your classroom do you have a scarcity of? What about outside the classroom?

V. Barter/Money

Barter: exchanging of goods and services without use of money

Money: coins, paper bills, and checks used in exchange for goods and services

Elf Trainee Activity 1: Bring in something to trade - a good or service. What can you barter it for?

Elf Trainee Activity 2: When can you use barter? Money? Watch the video below and be ready to explain!

The History of Money

VI. Wants and Needs (review)

Brain Pop Jr: Needs and Wants