State Standards - Social Studies

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Grade 2 Grade 3 Grade 4
Standard 4.0 Economics: Students will identify the economic principles and processes that are helpful to producers and consumers when making good decisions. Standard 4.0 Economics: Students will identify the economic principles and processes that are helpful to producers and consumers when making good decisions. Standard 4.0 Economics: Students will develop economic reasoning to understand the historical development and current status of economic principles, institutions, and processes needed to be effective citizens, consumers, and workers participating in local communities, the nation, and the world.
A. Scarcity and Economic Decision-making A. Scarcity and Economic Decision-making A. Scarcity and Economic Decision-making
1. Explain why people have to make economic choices about goods and services
1. Explain that people must make choices because resources are limited relative to unlimited wants for goods and services
1. Explain that people must make choices because resources are limited relative to economic wants for goods and services in Maryland, past and present
a. Identify and explain economic choices people make
a. Explain why people must make economic choices
a. Identify opportunity cost of economic decisions made by individuals, businesses, and governments
b. Identify and give examples of the positive and negative aspects of each choice
b. Identify and apply the steps in the decision-making process
 
c. Explain that choices have consequences, some of which are more important than others
c. Identify the opportunity cost of a choice or decision
 
2. Explain the production process
2. Examine the production process
2. Explain how limited economic resources are used to produce goods and services to satisfy economic wants in Maryland
a. Identify the natural, capital, and human resources used in the production of a good or service
a. Explain how producers make choices because of limited natural, human, and capital resources
a. Describe how scarcity and the availability of economic resources determine what is produced and the effects on consumers
b. Identify examples of specialized workers in the school and community, such as nurses, truck drivers, lawyers, and postal workers
b. Give examples of when limited resources affect the decisions producers make
 
  c. Describe steps in the production process to produce a product
 
  d. Explain how specialized work results in increased production
 
3. Examine how technology affects the way people live, work and play
3. Examine how technology affects the way people live, work, and play
3. Explain how technological changes have affected production and consumption in Maryland
a. Identify examples of technology used by consumers, such as automobiles, cameras, telephones, microwaves, televisions, and computers
a. Describe how changes in technology have affected the lives of consumers, such as UPC bar codes, and online shopping
a. Describe how changes in technology, such as refrigeration, impacted the lives of consumers
b. Analyze why consumers use technology in their daily lives
b. Describe how changes in technology have affected lives of producers, such as robot-powered assembly lines
b. Describe how entrepreneurship inspired technological changes and affected business productivity
4. Describe regional economic specialization in Maryland and the ways people live and work
    a. Explain how available resources determine which careers are more common in one region such as waterman on the Eastern Shore
    b. Describe how specialization results in the interdependence of people
B. Economic Systems and the Role of Government in the Economy B. Economic Systems and the Role of Government in the Economy B. Economic Systems and the Role of Government in the Economy
1. Describe different types of markets
1. Describe different types of markets
1. Describe the types of economic systems in Maryland
a. Describe different market situations where buyers and sellers meet to exchange goods and services
a. Identify markets that are not face-to-face meetings, such as Internet shopping or catalog shopping
a. Provide examples of tradition in the Maryland economy, such as businesses and skills that are handed down through families
b. Describe how people meet in market communities around the world, such as farmers' markets and door-to-door sales
b. Describe how countries around the world trade in the global market
b. Give examples of the kinds of goods and services produced in Maryland during different historical periods
2. Identify goods and services provided by the government and paid for by taxes
2. Describe the role of government in regulating economic activity and providing goods and services
  a. Classify goods and services according to who produces them, such as the government, business, or both
a. Give examples of how governments' decision making affect economic growth and the ability to provide jobs and provide services
    b. Explain how local and state governments in Maryland provide goods and services and are paid for by taxes
    c. Give examples of government's rules and laws that affect how people in businesses work such as requiring licenses to drive and regulating resources
3. Describe how consumers acquire goods and services
3. Describe how consumers acquire goods and services
3. Examine the progression from a barter system to a money economy in Colonial America
a. Identify goods and services provided by businesses
a. Develop a budget indicating income and expenses
a. Give examples of barter exchanges of goods and services in Maryland
b. Identify goods and services provided by government
b. Develop a plan that shows how money is obtained, such as selling things, getting a gift, and getting allowance
b. Give examples of contemporary money exchanges
c. Explain different ways to pay for goods and services, such as credit cards, checks, debit cards, and money orders
   
 

 

MSDE has developed a toolkit for these standards which can be found online at: http://mdk12.org/instruction/curriculum/social_studies/vsc_toolkit.html.

 

Date: 1/27/2015