Standards for All About Prices

Jump to:

National Standards in Economics

Name: Markets and Prices

Standard: 7

  • Students will understand that: Markets exist when buyers and sellers interact. This interaction determines market prices and thereby allocates scarce goods and services.
  • Students will be able to use this knowledge to: Identify markets in which they have participated as a buyer and seller and describe how the interaction of all buyers and sellers influences prices. Also, predict how prices change when there is either a shortage or surplus of the product available.

State Standards

Common Core State Standards

Name: K-8 Measurement & Data

Standard:

Area:

Name: Literacy in History/Social Studies

Standard:

Area: