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Standard 1 : Beginning Economics
Cluster Standards
This cluster includes the following benchmarks.
Visit the specific benchmark webpage to find related instructional resources.
- SS.1.E.1.1 : Recognize that money is a method of exchanging goods and services.
- SS.1.E.1.2 : Define opportunity costs as giving up one thing for another.
- SS.1.E.1.3 : Distinguish between examples of goods and services.
- SS.1.E.1.4 : Distinguish people as buyers, sellers, and producers of goods and services.
- SS.1.E.1.5 : Recognize the importance of saving money for future purchases.
- SS.1.E.1.6 : Identify that people need to make choices because of scarce resources.
Cluster Information
Number:
SS.1.E.1
Title:
Beginning Economics
Type:
Standard
Subject:
Social Studies
Grade:
1
Strand
Economics
Cluster Access Points
This cluster includes the following Access Points.
- SS.1.E.1.AP.1 : Identify coins and bills as forms of money that can be used to buy things.
- SS.1.E.1.AP.2 : Recognize a situation that involves making a choice such as schoolwork or play.
- SS.1.E.1.AP.3 : Recognize examples of goods and services.
- SS.1.E.1.AP.4 : Recognize people who buy or sell goods.
- SS.1.E.1.AP.5 : Recognize ways to save money, such as putting it in a bank.
- SS.1.E.1.AP.6 : Recognize when there is not enough of something (scarce resource).
Cluster Resources
Vetted resources educators can use to teach the concepts and skills in this topic.
Lesson Plans
- U.S.A. Mottos: In this lesson plan, students will recognize the national mottos “In God We Trust” and “We the People” as symbols that represent the United States. They will explore the meaning behind these mottos as well.
- My Rights and My Responsibilities: In this lesson, students will learn the difference between rights and responsibilities. They will explore different rights and responsibilities that they have in the school community, as well as opportunity costs when they must fulfill their responsibilities as students.