Nebraska

Students will utilize economic reasoning skills to make informed judgments and become effective participants in the economy at the local, state, national and international levels.

• Markets

  • SS 2.2.1 Students will recognize resources are limited, so other choices must be made and something must be given up (opportunity cost).

    • SS 2.2.1.a Identify resources (inputs) that make up various good and services

      • Natural resources (2-F.1)
      • Goods and services (2-F.2)

    • SS 2.2.1.b Identify what items are eliminated when a choice is made (tradeoff)

  • SS 2.2.2 Students will recognize that producers use resources to make goods, deliver services, earn a profit, and satisfy economic wants.

    • SS 2.2.2.a List various goods and services that can be produced with the same list of resources (e.g. soil, seed, and labor used to produce animal feed, plastics, cereal, or fuel)

• Institutions

  • SS 2.2.3 Students will describe how people earn income/wages through work.

    • SS 2.2.3.a Match capital resources and human resources with jobs in the community or home. (e.g., tractors and farmers)

• Financial Literacy

  • SS 2.2.6 Students will demonstrate knowledge of currency, its denominations, and use.

    • SS 2.2.6.a Make transactions using currency emphasizing its use as a medium of exchange (e.g., school store, buying pencils)

• Government

  • SS 2.2.10 Students will understand what goods and services governments provide.

    • SS 2.2.10.a Identify goods and services that governments provide and where they get the money to pay for the services (taxes) (e.g., water, fire department, police, schools)

      • Purpose of government (2-C.1)

• Globalization