Indiana Academic Standards
IN.5. The United States—The Founding of the Republic
5.4. Economics: Students describe the productive resources and market relationships that influence the way people produce goods and services and earn a living in the United States in different historical periods. Students consider the importance of economic decision making and how people make economic choices that influence their future.
5.4.4. Describe the impact of technological developments and major inventions on business productivity during the early development of the United States.
5.4.7. Predict the effect of changes in supply and demand on price.
5.4.8. Analyze how the causes and effects of changes in price of certain goods and services had significant influence on events in United States history.