National Standards in Economics

Below are the National Standards in Economics that most closely relate to the following lesson. Switch to National Standards in Personal Finance

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LESSON

Theme 3: Lesson 8 - Managing Your Money

Grades: 9-12

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STANDARDS

Standard: 1

Grades: 4-12

• Scarcity
• 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.