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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. Describe choices people make because of unlimited economic wants
Objectives
- Explain that goods are things that people make or grow
- Identify situations where people make choices
Indicator
- 2. Identify that resources are used to make products
Objectives
- Recognize workers as human resources
- Describe some jobs and what is required to perform them
- 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
- 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
- Describe how buyers and sellers make exchanges at the market
Indicator
- 3. Describe how goods are acquired
Objectives
- Explain that money is one way to acquire goods
- Explain that trading is another way to acquire goods
- Recognize that goods have different values
Date: 6/20/2006
