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National Standards in Economics
Name: Scarcity
Standard: 1
- Students will understand that: Productive resources are limited. Therefore, people cannot have all the goods and services they want; as a result, they must choose some things and give up others.
- Students will be able to use this knowledge to: Identify what they gain and what they give up when they make choices.
Name: Specialization
Standard: 6
- Students will understand that: When individuals, regions, and nations specialize in what they can produce at the lowest cost and then trade with others, both production and consumption increase.
- Students will be able to use this knowledge to: Explain how they can benefit themselves and others by developing special skills and strengths.
National Standards in Financial Literacy
Name: Spending
Standard: 2
- Students will understand that: A budget is a plan for allocating a person’s spendable income to necessary and desired goods and services. When there is sufficient money in their budget, people may decide to give money to others, save, or invest to achieve future goals. People can often improve their financial wellbeing by making well-informed spending decisions, which includes critical evaluation of price, quality, product information, and method of payment. Individual spending decisions may be influenced by financial constraints, personal preferences, unique needs, peers, and advertising.
Common Core State Standards
Name: CCRA.L.6
Standard: College and Career Readiness Anchor Standards for Language
Area: College and Career Readiness Anchor Standards for Language
- Acquire and use accurately a range of general academic and domain-specific words and phrases sufficient for reading, writing, speaking, and listening at the college and career readiness level; demonstrate independence in gathering vocabulary knowledge when encountering an unknown term important to comprehension or expression.
Name: CCRA.R.1
Standard: College and Career Readiness Anchor Standards for Reading
Area: College and Career Readiness Anchor Standards for Reading
- Read closely to determine what the text says explicitly and to make logical inferences from it; cite specific textual evidence when writing or speaking to support conclusions drawn from the text.
Name: CCRA.R.10
Standard: College and Career Readiness Anchor Standards for Reading
Area: College and Career Readiness Anchor Standards for Reading
- Read and comprehend complex literary and informational texts independently and proficiently.
Name: CCRA.SL.1
Standard: College and Career Readiness Anchor Standards for Speaking and Listening
Area: College and Career Readiness Anchor Standards for Speaking and Listening
- Prepare for and participate effectively in a range of conversations and collaborations with diverse partners, building on others’ ideas and expressing their own clearly and persuasively.
