• Economics








    Student identifies the difference between wants and need

    Identify classroom wants and needs


    Identify choice based on interest

    Identify wants and needs

    Define scarcity and identify examples of resources, wants and needs.

    Recognize the difference between basic needs and wants.


    Identify scarcity of resources in Pennsylvania and regions of the US.

    Explain how limited resources and unlimited wants cause scarcity



    Define economics as an individual

    Identify goods, services, consumers, and producers

    Identify goods, services, consumers and producers in communities.

    Explain the role of producers in making goods and providing services.

    Explain ways in which people meet their basic needs and wants.

    Explore the use of human and capital resources to influence the production of a specific good (i.e. corn, rice, tobacco)

    Economic Systems …


    ·   Capitalism

    ·   Socialism

    ·   Communism

    ·   Mixed economies


    Identify different jobs and the purpose of each


    Identify ways to earn money

    Identify local economic activities

    -     Workers

    -     Employment

    Identify economic characteristics of local economies

    Explain the 3 basic questions all economic systems must answer:

    • What to produce?
    • How?
    • For whom?

    Describe the interaction of consumers and producers of goods and services in the state (colonial) and national (imperial) economy.

    The Role of Government




    Identify examples of the local, county, state and national government’s involvement in the economy and how taxes are related to government services.

    Describe the impact of government involvement in state and national economic activities.

    Describe factors that influence government’s economic decision making.



    Identify examples of goods and services

    Identify products produced outside the United States

    Identify examples of trade, imports and exports in the local community

    Explain why regions and nations must trade.

    Explain the growth of regional and trans-Atlantic trade during the colonial era.