Standards for Alexander, Who Used to Be Rich Last Sunday

Name: Decision Making

Standard: 2

• 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.

Name: Buying Goods and Services

Standard:

• Students will understand that: People cannot buy or make all the goods and services they want; as a result, people choose to buy some goods and services and not buy others. People can improve their economic wellbeing by making informed spending decisions, which entails collecting information, planning, and budgeting.

Name: Saving

Standard:

• Students will understand that: Saving is the part of income that people choose to set aside for future uses. People save for different reasons during the course of their lives. People make different choices about how they save and how much they save. Time, interest rates, and inflation affect the value of savings.