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A. Scarcity and Economic Decision-making
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A. Scarcity and Economic Decision-making
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1. Recognize that people have to make choices because of unlimited economic wants
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1. Describe choices people make because of unlimited economic wants
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a. Identify that goods are things that people make or grow
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a. Explain that goods are things that people make or grow
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b. Demonstrate the ability to make a choice
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b. Identify situations where people make choices
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2. Identify that materials/resources are used to make products
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2. Identify that resources are used to make products
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a. Recognize that workers do jobs in the home and school
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a. Recognize workers as human resources
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b. Participate in steps that are followed in making a product, such as a drawing, a block building, and a card for a friend or relative
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b. Describe some jobs and what is required to perform them
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c. Recognize that natural resources, such as water, trees, and plants are used to make products
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3. Explain how technology affects the way people live, work, and play
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3. Explain how technology affects the way people live, work, and play
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a. Begin to be aware of technology and how it affects daily life, such as different ways to fasten shoes and different appliances to cook food
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a. Begin to be aware of technology and how it affects life
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B. Economic Systems and the Role of Government in the Economy
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B. Economic Systems and the Role of Government in the Economy
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1. Identify types of local markets
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1. Identify types of local markets
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a. Identify markets as places where buyers and sellers meet
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a. Describe how buyers and sellers make exchanges at the market
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3. Identify how goods are acquired
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3. Describe how goods are acquired
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a. Identify that coins and bills are money
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a. Explain that money is one way to acquire goods
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b. Identify that money is used to buy goods
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b. Explain that trading is another way to acquire goods
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c. Recognize that goods have different values
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