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| Grade 4
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| History and Government, Economics and Geography, Approved 2005
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| 2
| Economics |
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Standard
Benchmark
Indicator | Description | Lesson Plans | Thinkfinity | Resources |
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2
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The student uses a working knowledge and understanding of major economic concepts, issues, and systems of the United States and other nations; and applies decision-making skills as a consumer, producer, saver, investor, and citizen of Kansas and the United States living in an interdependent world.
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2.1
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The student understands how limited resources require choices.
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2.1.1
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(K) - ($) The student knows that every spending and saving decision has an opportunity cost.
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2.1.2
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(A) The student identifies examples of how natural, capital, and human resources are used in production of goods and services (e.g., land resources [natural] are used to produce wheat [goods] that is harvested by skilled farmers [human] using combines [capital]).
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2.1.3
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(A) The student traces the production, distribution, and consumption of a particular good in the state or region.
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2.1.4
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(A) The student gives an example of economic specialization that leads to trade between regions of the United States (e.g., Kansas produces wheat and beef and trades with other regions, Michigan produces automobiles, the Southeast produces rice, the Northwest produces paper).
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2.2
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The student understands how the market economy works in the United States.
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2.2.1
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(K) - ($) The student defines the characteristics of an entrepreneur and gives an example of someone who shows those characteristics (e.g., risk taker, innovator, gets together all resources needed to produce a product).
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2.3
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The student analyzes how different incentives, economic systems and their institutions, and local, national, and international interdependence affect people.
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2.3.1
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(K) The student defines market economy as an economic system in which buyers and sellers make major decisions about production and distribution, based on supply and demand.
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2.4
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The student analyzes the role of the government in the economy.
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2.5
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The student makes effective decisions as a consumer, producer, saver, investor, and citizen.
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2.5.1
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(A) - ($) The student discusses ways workers can improve their ability to earn income by gaining new knowledge, skills, and experience.
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2.5.2
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(A) The student analyzes the costs and benefits of making a choice.
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