| Grade 2 |
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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.
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A. Scarcity and Economic Decision-making
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1. Explain why people have to make economic choices about goods and services
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a. Identify and explain economic choices people make
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b. Identify and give examples of the positive and negative aspects of each choice
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c. Explain that choices have consequences, some of which are more important than others
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2. Explain the production process
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a. Identify the natural, capital, and human resources used in the production of a good or service
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b. Identify examples of specialized workers in the school and community, such as nurses, truck drivers, lawyers, and postal workers
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3. Examine how technology affects the way people live, work and play
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a. Identify examples of technology used by consumers, such as automobiles, cameras, telephones, microwaves, televisions, and computers
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b. Analyze why consumers use technology in their daily lives
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B. Economic Systems and the Role of Government in the Economy
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1. Describe different types of markets
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a. Describe different market situations where buyers and sellers meet to exchange goods and services
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b. Describe how people meet in market communities around the world, such as farmers' markets and door-to-door sales
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3. Describe how consumers acquire goods and services
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a. Identify goods and services provided by businesses
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b. Identify goods and services provided by government
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c. Explain different ways to pay for goods and services, such as credit cards, checks, debit cards, and money orders
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