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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. Explain why people have to make economic choices about goods and services
Objectives
- Identify and explain economic choices people make
- Identify and give examples of the positive and negative aspects of each choice
- Explain that choices have consequences, some of which are more important than others
Indicator
- 2. Explain the production process
Objectives
- Identify the natural, capital, and human resources used in the production of a good or service
- Identify examples of specialized workers in the school and community, such as nurses, truck drivers, lawyers, and postal workers
Indicator
- 3. Examine how technology affects the way people live, work and play
Objectives
- Identify examples of technology used by consumers, such as automobiles, cameras, telephones, microwaves, televisions, and computers
- Analyze why consumers use technology in their daily lives
Topic
B. Economic Systems and the Role of Government in the Economy
Indicator
- 1. Describe different types of markets
Objectives
- Describe different market situations where buyers and sellers meet to exchange goods and services
- Describe how people meet in market communities around the world, such as farmers' markets and door-to-door sales
Indicator
- 3. Describe how consumers acquire goods and services
Objectives
- Identify goods and services provided by businesses
- Identify goods and services provided by government
- Explain different ways to pay for goods and services, such as credit cards, checks, debit cards, and money orders
Date: 1/27/2015
