Social Studies

Grade 4

SS 4 Economic Concepts and Principles

Course Objective * Students will acquire knowledge of economic concepts (productivity and market systems) and principles (laws of supply and demand).

Learner Objectives

1. Compare saving and investment. [3.8]

http://www.umsl.edu/~wpockets/schoolhouse/lessons/kermit/kermit.htm

1. Explain supply and demand. [4.1]

2. Interpret past, explain present, and predict future consequences of economic decisions, (decisions would be of a nature that is meaningful to fourth graders, such as decisions made by consumers and decisions pertaining to the environment). [1.8]

3. Explain how the state gets the money it needs to provide goods and services, especially by the collection of sales taxes. [4.3]

4. Explain how decisions of households, businesses, and governments affect one another. [1.8]

5. Review and distinguish among the three categories of resources needed to produce goods and services (natural resources, human resources, and capital resources) in order to explain how they satisfy people’s economic wants. [1.8]

6. Compare the role of producers and consumers in order to explain how their decisions may affect the environment. [4.1]

7. Evaluate various situations involving scarcity in order to predict the opportunity costs. [1.10]

http://www.umsl.edu/~wpockets/schoolhouse/lessons/mixup/mixup.html