Standards for Money and Elections

Name: Allocation

Standard: 3

• Students will understand that: Different methods can be used to allocate goods and services. People acting individually or collectively must choose which methods to use to allocate different kinds of goods and services.
• Students will be able to use this knowledge to: Evaluate different methods of allocating goods and services, by comparing the benefits to the costs of each method.

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.