School Improvement in Maryland

Using the State Standards: Social Studies, Grade K

Print:

Economics:

Social Studies:

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 choices people make because of unlimited economic wants
Objectives
  1. Explain that goods are things that people make or grow
  2. Identify situations where people make choices

Indicator

  • 2. Identify that resources are used to make products
Objectives
  1. Recognize workers as human resources
  2. Describe some jobs and what is required to perform them
  3. Recognize that natural resources, such as water, trees, and plants are used to make products

Indicator

  • 3. Explain how technology affects the way people live, work, and play
Objective
  1. Begin to be aware of technology and how it affects life

Topic

B. Economic Systems and the Role of Government in the Economy

Indicator

  • 1. Identify types of local markets
Objective
  1. Describe how buyers and sellers make exchanges at the market

Indicator

  • 3. Describe how goods are acquired
Objectives
  1. Explain that money is one way to acquire goods
  2. Explain that trading is another way to acquire goods
  3. Recognize that goods have different values

Date: 1/27/2015