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Economics:
Social Studies:
Economics |
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Standard 4.0 Economics
Students will identify the economic principles and processes that are helpful to producers and consumers when making good decisions.
Topic
A. Scarcity and Economic Decision-making
Indicator
- 1. Describe economic choices people make about goods and services
Objectives
- Identify and discuss goods and services provided in the community
- Explain how getting something one wants may mean giving up something in return
Indicator
- 2. Describe the production process
Objectives
- Give examples of natural and human resources used in production, such as making butter, making ice cream, and building houses
- Describe the skills people need for their work in the home, school, and community
Indicator
- 3. Explain how technology affects the way people live, work, and play
Objective
- Describe how tools and products have affected the way people live, work, or play
Topic
B. Economic Systems and the Role of Government in the Economy
Indicator
- 1. Describe types of markets in the community
Objectives
- Explain how markets operate
- Identify markets in the local community, such as grocery stores, farmers' markets, toy stores, and fast food restaurants
Indicator
- 3. Describe how goods and services are acquired
Objectives
- Describe how people earn money by working at a job
- Compare goods that have different values, such as same item at different stores
Date: 6/20/2006
