Iowa Core Standards
E.1. Understand the role of scarcity and economic trade-offs and how economic conditions impact people’s lives.
E.1.1. Understand that goods and services are scarce because there are not enough resources to satisfy all of the wants of individuals, governments, and societies
E.1.3. Understand that businesses are willing to sell more products and services when prices go up and less when the price goes down.
E.4. Understand factors that create patterns of interdependence in the world economy.
E.4.3. Understand that local goods and services are part of the global economy.
E.4.4. Understand the concepts of exports and imports.
E.6. Understand that all economies throughout the world rely upon universal concepts.
E.6.2. Understand supply and demand in various types of economies.
H.4. Understand the role of individuals and groups within a society as promoters of change or the status quo.
H.4.2. Understand that specific individuals had a great impact on history