Social
Studies — Economics Standards Addressed (PDF
File)
Social
Studies — Economics Standards Addressed Grade 4 3-5 Benchmark A. Explain the opportunity
costs involved in the allocation of scarce productive
resources.
Scarcity and Resource Allocation / Y2003.CSS.S04.G03-05.BA.L04.I01
01.
Identify the productive resources needed to produce a
good or service and suggest opportunity costs for
the resources involved.
Vocabulary Review: Economic
Concentration and Tic-Tac-Toe
Vocabulary Review:
Economic Fortune Tellers
3-5 Benchmark B. Explain
why entrepreneurship, capital goods, technology, specialization
and division
of labor are important in the production of goods
and services.
Production, Distribution and Consumption
/ Y2003.CSS.S04.G03-05.BB.L04.I03
03. Explain how
entrepreneurs organize productive resources to
produce goods and
services and that they seek
to make profits by taking risks.
Vocabulary
Review: Economic Concentration and Tic-Tac-Toe
Vocabulary
Review: Economic Fortune Tellers
Grade 5
3-5 Benchmark A. Explain the opportunity
costs involved in the allocation
of scarce productive
resources.
Scarcity and Resource
Allocation / Y2003.CSS.S04.G03-05.BA.L05.I01
01. Compare
different allocation methods for scarce goods and
services such as prices,
command, first-come-first-served,
sharing equally, rationing
and lottery.
What’s the
Cost?
Scarcity
and Resource Allocation / Y2003.CSS.S04.G03-05.BA.L05.I02
02. Explain
that individuals in all economies must answer
the fundamental
economic questions of
what to produce,
how to produce
and for whom to produce.
The Chains of Interdependence
Factors of Production
and Interdependence
Supply and Demand — Mountain
Dew
Supply and
Demand — The
Super Bakery
3-5 Benchmark B. Explain why entrepreneurship,
capital goods,
technology, specialization
and division of
labor are important
in the production
of
goods
and services.
Production,
Distribution and Consumption /
Y2003.CSS.S04.G03-05.BB.L05.I03
03.
Explain how education, specialization,
capital
goods and the
division of labor affect
productive capacity.
The
Chains of Interdependence
Factors of
Production and Interdependence
SchoolMark
Greeting Card Company
Supply and Demand — Mountain
Dew
Supply
and Demand — The
Super Bakery
3-5 Benchmark
C. Explain how competition
affects
producers and consumers
in a market economy
and why specialization
facilitates trade.
Markets
/ Y2003.CSS.S04.G03-05.BC.L05.I04
04. Explain how
regions in North America become interdependent
when they specialize in what they produce best and then
trade with
other regions inside and outside North America to increase
the amount
and variety
of goods and services
available.
Availability
of Resources
The Chains
of Interdependence
Factors
of Production
and Interdependence
Markets
/ Y2003.CSS.S04.G03-05.BC.L05.I05
05. Explain
the general
relationship
between
supply, demand
and price in
a competitive
market.
Case
Study: The International
Trade Game
The Chains
of Interdependence
Factors
of Production
and Interdependence
Supply
and Demand — Mountain
Dew
Supply
and
Demand — The
Super Bakery
Markets
/ Y2003.CSS.S04.G03-05.BC.L05.I06
06. Explain
why competition
among
producers/sellers results in
lower costs and prices, higher product quality
and better
customer service.
Case Study: The International
Trade Game
Factors of Production
and Interdependence
Supply and
Demand — Mountain
Dew
Supply and Demand — The
Super Bakery
Markets
/ Y2003.CSS.S04.G03-05.BC.L05.I07
07. Explain
why
competition among consumers/buyers
results
in
higher product
prices
Supply
and Demand — Mountain
Dew
Supply
and Demand — The
Super Bakery
Grade
6
6-8 Benchmark
A. Explain
how the
endowment
and development
of productive
resources
affect
economic
decisions
and global
interactions.
Scarcity
and Resource
Allocation
/ Y2003.CSS.S04.G06-08.BA.L06.I01
01. Explain
how
the availability
of
productive resources
and
entrepreneurship affects
the
production of goods and
services
in
different
world regions.
But
Those Are the
Shoes That I Want! — Free
Trade, Tariffs
and Globalization
Case
Study: The International
Trade Game
The Chains
of Interdependence
Factors
of Production and Interdependence
Imports
and Exports
Supply
and Demand — Mountain
Dew
Supply
and Demand — The
Super Bakery
Scarcity
and Resource
Allocation
/ Y2003.CSS.S04.G06-08.BA.L06.I02
02.
Explain that most
decisions
involve
trade-offs
and
give
examples.
Case
Study: The
International Trade
Game
What’s
the Cost
6-8
Benchmark B. Explain
why trade
occurs
and how
historical
patterns
of
trade
have contributed
to global
interdependence.
Markets
/ Y2003.CSS.S04.G06-08.BB.L06.I03
03.
Explain why trade
occurs when
individuals, regions
and countries specialize
in what
they can
produce at
the lowest
opportunity cost
and how this
causes both
production and
consumption to increase.
Availability
of Resources
But
Those Are
the Shoes
That I Want! — Free
Trade,
Tariffs and Globalization
The
Chains of
Interdependence
Factors
of Production
and Interdependence
Markets
/
Y2003.CSS.S04.G06-08.BB.L06.I04
04. Identify
goods and
services that
are imported
and exported
and explain
how this
trade makes
countries interdependent.
Availability
of Resources
Case
Study, The
International Trade
Game
The
Chains of
Interdependence
Factors
of Production
and Interdependence
Markets
/
Y2003.CSS.S04.G06-08.BB.L06.I05
05. Describe
how supply
and demand
help to
set the
market clearing
price for
goods and
services and
how prices
reflect the
relative scarcity
of goods
and services.
Case
Study, The
International Trade
Game
Supply
and Demand — Mountain
Dew
Supply
and Demand — The
Super Bakery
6-8
Benchmark
C. Identify
connections
between
government
policies
and
the
economy.
Government
and the
Economy /
Y2003.CSS.S04.G06-08.BC.L06.I06
06. Distinguish
between goods
and services
typically produced
by the
private sector
and the
public sector.
The
Public vs.
the Private
Sector
Grade 7
6-8
Benchmark
A.
Explain
how
the
endowment
and
development
of
productive
resources
affect
economic
decisions
and
global
interactions.
Scarcity and
Resource
Allocation
/
Y2003.CSS.S04.G06-08.BA.L07.I01
01. Compare
the
endowment
of
productive
resources
in
world
regions
and
explain
how
this
endowment
contributed
to
specialization,
trade
and
interdependence
in
ancient
times.
But
Those Are
the Shoes
That I
Want! — Free
Trade, Tariffs
and Globalization
Case
Study: The
International Trade
Game
6-8
Benchmark
B.
Explain
why
trade
occurs
and
how
historical
patterns
of
trade
have
contributed
to
global
interdependence.
Markets
/ Y2003.CSS.S04.G06-08.BB.L07.I02
02.
Describe
the
growth
of
cities
and
the
establishment
of
trade
routes
in
Asia,
Africa
and
Europe;
the
products
and
inventions
that
traveled
along
these
routes
(e.g.,
spices,
textiles,
paper,
precious
metals
and
new
crops);
and
the
role
of
merchants.
Case
Study: The
International Trade
Game
6-8
Benchmark
C.
Identify
connections
between
government
policies
and
the
economy.
Government
and
the
Economy
/
Y2003.CSS.S04.G06-08.BC.L08.I05
01.
Explain
how
governmental
protection
of
property
rights
and
regulation
of
economic
activity
impacted
the
development
of
the
U.S.
economy.
Literature
Connection — Sample
Lesson
Grade
8
6-8
Benchmark
A.
Explain
how
the
endowment
and
development
of
productive
resources
affect
economic
decisions
and
global
interactions.
Scarcity and
Resource
Allocation
/ Y2003.CSS.S04.G06-08.BA.L08.I01
01.
Explain
how
the
uneven
distribution
of
productive
resources
influenced
historic
events
such
as
the
Civil
War.
Imports
and Exports
Tariffs — Expert
Groups
6-8
Benchmark
B.
Explain
why
trade
occurs
and
how
historical
patterns
of
trade
have
contributed
to
global
interdependence.
Markets
/ Y2003.CSS.S04.G06-08.BB.L08.I02
02. Discuss
how mercantilism
and the
establishment of
colonies led to increased global trading during the
17th and
18th centuries.
But Those Are
the Shoes That I Want! — Free
Trade, Tariffs and Globalization
Imports
and Exports
Interdependence/Mercantilism
Mercantilism
Through
the
Triangular Trade
Triangular
Trade
Markets
/ Y2003.CSS.S04.G06-08.BB.L08.I03
03. Explain
the purpose
and
effects
of trade
barriers
such
as tariffs
enacted before the Civil War.
Tariffs — Expert
Groups
6-8 Benchmark C. Identify
connections
between government policies and
the economy.
Government and the Economy
/ Y2003.CSS.S04.G06-08.BC.L08.I04
03.
Explain how lack
of
power to regulate
the
economy contributed
to the
demise
of
the Articles
of
Confederation
and
the creation
of
U.S. Constitution.
Economics
and the
Articles of
Confederation: Political
Cartoons
Government
and the
Economy
/
Y2003.CSS.S04.G06-08.BC.L08.I05
04.
Explain
how
governmental
protection
of
property
rights
and
regulation
of
economic
activity
impacted
the
development
of
the U.S.
economy.
The
Right
to
Private
Property
|
