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National Standards in Economics
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.
National Standards in Financial Literacy
Name: Earning Income
Standard: 1
- Students will understand that: Most people earn wage and salary income in return for working, and they can also earn income from interest, dividends, rents, entrepreneurship, business profits, or increases in the value of investments. Employee compensation may also include access to employee benefits such as retirement plans and health insurance. Employers generally pay higher wages and salaries to more educated, skilled, and productive workers. The decision to invest in additional education or training can be made by weighing the benefit of increased income-earning and career potential against the opportunity costs in the form of time, effort, and money. Spendable income is lower than gross income due to taxes assessed on income by federal, state, and local governments.
Common Core State Standards
Name: CCRA.L.6
Standard: College and Career Readiness Anchor Standards for Language
Area: College and Career Readiness Anchor Standards for Language
- Acquire and use accurately a range of general academic and domain-specific words and phrases sufficient for reading, writing, speaking, and listening at the college and career readiness level; demonstrate independence in gathering vocabulary knowledge when encountering an unknown term important to comprehension or expression.
Name: CCRA.W.2
Standard: College and Career Readiness Anchor Standards for Writing
Area: College and Career Readiness Anchor Standards for Writing
- Write informative/explanatory texts to examine and convey complex ideas and information clearly and accurately through the effective selection, organization, and analysis of content.
Name: CCRA.W.4
Standard: College and Career Readiness Anchor Standards for Writing
Area: College and Career Readiness Anchor Standards for Writing
- Produce clear and coherent writing in which the development, organization, and style are appropriate to task, purpose, and audience.
