MT.5. Students make informed decisions based on an understanding of the economic principles of production, distribution, exchange, and consumption.
5.1. Students will identify and explain basic economic concepts (e.g., supply, demand, production, exchange and consumption; labor, wages, and capital; inflation and deflation; and private goods and services).
5.2. Students will apply economic concepts to explain historical events, current situations, and social issues in local, Montana, tribal, national, or global concerns.
5.3. Students will compare and contrast the difference between private and public goods and services.
5.4. Students will analyze how various personal and cultural points of view influence economic decisions (e.g., land ownership, taxation, unemployment).