SS.7.E.1.5

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Assess how profits, incentives, and competition motivate individuals, households, and businesses in a free market economy.
General Information
Subject Area: Social Studies
Grade: 7
Strand: Economics
Standard: Understand the fundamental concepts relevant to the development of a market economy.
Date Adopted or Revised: 02/14
Status: State Board Approved

Related Courses

This benchmark is part of these courses.
2106010: M/J Civics (Specifically in versions: 2014 - 2015, 2015 - 2019, 2019 - 2022, 2022 - 2023, 2023 - 2024, 2024 and beyond (current))
2106016: M/J Civics & Career Planning (Specifically in versions: 2014 - 2015, 2015 - 2019, 2019 - 2022, 2022 - 2023, 2023 - 2024, 2024 and beyond (current))
2106020: M/J Civics, Advanced (Specifically in versions: 2014 - 2015, 2015 - 2019, 2019 - 2022, 2022 - 2023, 2023 - 2024, 2024 and beyond (current))
2106026: M/J Civics, Advanced & Career Planning (Specifically in versions: 2014 - 2015, 2015 - 2019, 2019 - 2022, 2022 - 2023, 2023 - 2024, 2024 and beyond (current))
2104030: M/J United States Economics Geography (Specifically in versions: 2014 - 2015, 2015 - 2019 (course terminated))
2104035: M/J United States Economics & Geography Advanced (Specifically in versions: 2014 - 2015, 2015 - 2019 (course terminated))
7821023: Access M/J Civics and Career Planning (Specifically in versions: 2014 - 2015, 2015 - 2018, 2018 - 2019, 2019 - 2023, 2023 and beyond (current))
7821021: Access M/J Civics (Specifically in versions: 2014 - 2015, 2015 - 2018, 2018 - 2023, 2023 and beyond (current))

Related Access Points

Alternate version of this benchmark for students with significant cognitive disabilities.
SS.7.E.1.AP.5: Identify that profit and incentives motivate people and businesses to work harder.

Related Resources

Vetted resources educators can use to teach the concepts and skills in this benchmark.

Lesson Plan

Show Me the Money: Capitalism, Socialism, Communism:

The lesson begins with students exploring the terms economic freedom and standard of living in a group discussion.  Students will complete graphic organizers about capitalism, socialism, and communism as they learn via a provided PowerPoint presentation.  Students will reflect in writing on the advantages of capitalism and the free market. 

Type: Lesson Plan

Student Resources

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Parent Resources

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