New Jersey Standards
NJ.6.1.4. U.S. History: America in the World. All students will acquire the knowledge and skills to think analytically about how past and present interactions of people, cultures, and the environment shape the American heritage. Such knowledge and skills enable students to make informed decisions that reflect fundamental rights and core democratic values as productive citizens in local, national, and global communities.
6.1.4.C. Economics, Innovation, and Technology
Economics is a driving force for the occurrence of various events and phenomena in societies.
6.1.4.C.3. Explain why incentives vary between and among producers and consumers.
6.1.4.C.4. Describe how supply and demand influence price and output of products.
Interaction among various institutions in the local, national, and global economies influence policymaking and societal outcomes.
6.1.4.C.7. Explain how the availability of private and public goods and services is influenced by the global market and government.
People make decisions based on their needs, wants, and the availability of resources.
6.1.4.C.2. Distinguish between needs and wants and explain how scarcity and choice influence decisions made by individuals, communities, and nations.