National Standards in Economics
Below are the National Standards in Economics that most closely relate to the following lesson.
LESSON
Lesson 3 - Voters and Elections ~ http://civics.councilforeconed.org/lesson.php?lid=3
Grades: 9-12
STANDARDS
Standard: 2
Grades: 4-12
- Decision Making
- Students will understand that: Effective decision making requires comparing the additional costs of alternatives with the additional benefits. Many choices involve doing a little more or a little less of something: few choices "are all or nothing" decisions.
- Students will be able to use this knowledge to: Make effective decisions as consumers, producers, savers, investors, and citizens.
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.
Standard: 4
Grades: 4-12
- Incentives
- Students will understand that: People usually respond predictably to positive and negative incentives.
- Students will be able to use this knowledge to: Identify incentives that affect people's behavior and explain how incentives affect their own behavior.
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