ID.3. Economics - Students in Grade 3 explain basic economic concepts, and identify different influences on economic systems, analyze the different types of economic institutions, and explain the concepts of good personal finance.
3.1: Explain basic economic concepts.
By the end of Grade 3, the student will be able to:
3.SS.3.1.1. Explain the concepts of supply and demand and the role of the consumer and producer. (424.01b)