Standards for Pennies Make Cents

Name: Money and Inflation

Standard: 11

• Students will understand that: Money makes it easier to trade, borrow, save, invest, and compare the value of goods and services. The amount of money in the economy affects the overall price level. Inflation is an increase in the overall price level that reduces the value of money.
• Students will be able to use this knowledge to: Explain how their lives would be more difficult in a world with no money, or in a world where money sharply lost its value.

Name: Specialization

Standard: 6

• Students will understand that: When individuals, regions, and nations specialize in what they can produce at the lowest cost and then trade with others, both production and consumption increase.
• Students will be able to use this knowledge to: Explain how they can benefit themselves and others by developing special skills and strengths.