U.S. National Standards
N.NCSS. National Curriculum Standards for Social Studies (NCSS)
NCSS.7. PRODUCTION, DISTRIBUTION, AND CONSUMPTION
SOCIAL STUDIES PROGRAMS SHOULD INCLUDE EXPERIENCES THAT PROVIDE FOR THE STUDY OF HOW PEOPLE ORGANIZE FOR THE PRODUCTION, DISTRIBUTION, AND CONSUMPTION OF GOODS AND SERVICES.
7.1. KNOWLEDGE - Learners will understand:
7.1.1. Individuals, government, and society experience scarcity because human wants and needs exceed what can be produced from available resources.
N.NCSE. National Content Standards in Economics (NCSE)
Students will understand that productive resources are limited. Therefore, people cannot have all the goods and services they want; as a result, they must choose some things and give up others. Students will be able to use this knowledge to identify what they gain and what they give up when they make choices.
1.1. At the completion of Grade 8, students will know the Grade 4 benchmarks for this standard, and also that:
1.1.1. Scarcity is the condition of not being able to have all of the goods and services that one wants. It exists because human wants for goods and services exceed the quantity of goods and services that can be produced using all available resources. Scarcity is experienced by individuals, governments, and societies.
Students will understand that different methods can be used to allocate goods and services. People acting individually or collectively must choose which methods to use to allocate different kinds of goods and services. Students will be able to use this knowledge to evaluate different methods of allocating goods and services, by comparing the benefits to the costs of each method.
3.1. At the completion of Grade 8, students will know the Grade 4 benchmarks for this standard, and also that:
3.1.1. Scarcity requires the use of some distribution method to allocate goods, services, and resources, whether the method is selected explicitly or not.
3.1 At the completion of Grade 8, students will know the Grade 4 benchmarks for this standard, and also that:
3.1.5. As consumers, people use resources in different ways to satisfy different wants. Productive resources can be used in different ways to produce different goods and services.
Students will understand that voluntary exchange occurs only when all participating parties expect to gain. This is true for trade among individuals or organizations within a nation, and among individuals or organizations in different nations. Students will be able to use this knowledge to negotiate exchanges and identify the gains to themselves and others. Compare the benefits and costs of policies that alter trade barriers between nations, such as tariffs and quotas.
5.1 At the completion of Grade 8, students will know the Grade 4 benchmarks for this standard, and also that:
5.1.5. Imports are foreign goods and services that are purchased from sellers in other nations.
5.1.6. Exports are domestic goods and services that are sold to buyers in other nations.
5.2 At the completion of Grade 8, students will use this knowledge to:
5.2.6. Determine what major products are produced in their community or state for export and the countries to which they are exported.
NCSE.7. Markets and Prices
Students will understand that a market exists when buyers and sellers interact. This interaction determines market prices and thereby allocates scarce goods and services. Students will be able to use this knowledge to identify markets in which they have participated as a buyer and as a seller and describe how the interaction of all buyers and sellers influences prices. Also, predict how prices change when there is either a shortage or surplus of the product available.
7.2 At the completion of Grade 8, students will use this knowledge to:
7.2.4. Identify examples of products for which the price fell because sellers did not sell all they had produced at the initial price; identify examples of other products for which the price rose because consumers wanted to buy more than producers were producing at the initial price.
NCSE.18. Economic Fluctuations
Students will understand that fluctuations in a nation’s overall levels of income, employment, and prices are determined by the interaction of spending and production decisions made by all households, firms, government agencies, and others in the economy. Recessions occur when overall levels of income and employment decline. Students will be able to use this knowledge to interpret media reports about current economic conditions and explain how these conditions can influence decisions made by consumers, producers, and government policy makers.
18.1 At the completion of Grade 8, students will know that:
18.1.3. Net exports equal the value of exports (goods and services sold to other countries) minus the value of imports (goods and services bought from other countries). Net exports can be either positive (trade surplus) or negative (trade deficit).
18.2 At the completion of Grade 8, students will use this knowledge to:
18.2.3. Calculate what has happened to net U.S. exports because of changes in exports and imports over the last 10 years. Identify whether there has been a trade surplus or trade deficit over these years.
N.NCHS. National Center for History in Schools (NCHS)
NCHS.HT. Historical Thinking Standards
HT.2. Historical Comprehension
HT.2.B. Reconstruct the literal meaning of a historical passage.
NCHS.USH. United States History Content Standards
USH.4. Era 4: Expansion and Reform (1801-1861)
USH.4.2. How the industrial revolution, increasing immigration, the rapid expansion of slavery, and the westward movement changed the lives of Americans and led toward regional tensions.
USH.4.2A. The student understands how the factory system and the transportation and market revolutions shaped regional patterns of economic development.
USH.6. Era 6: The Development of the Industrial United States (1870-1900)
USH.6.1. How the rise of corporations, heavy industry, and mechanized farming transformed the American people.
USH.6.1A. The student understands the connections among industrialization, the advent of the modern corporation, and material well-being.
USH.6.2. Massive immigration after 1870 and how new social patterns, conflicts, and ideas of national unity developed amid growing cultural diversity.
USH.6.2C. The student understands how new cultural movements at different social levels affected American life.
NCHS.WH. World History Content Standards
WH.7. Era 7: An Age of Revolutions, 1750-1914
WH.7.4. Patterns of nationalism, state-building, and social reform in Europe and the Americas, 1830-1914.
WH.7.4D. The student understands the political, economic, and social transformations in the Americas in the 19th century.
WH.7.5. Patterns of global change in the era of Western military and economic domination, 1800-1914.
WH.7.5A. The student understands connections between major developments in science and technology and the growth of industrial economy and society.
WH.7.6. Major global trends from 1750-1914.
WH.7.6A. The student understands major global trends from 1750 to 1914.
WH.8. Era 8: A Half-Century of Crisis and Achievement, 1900-1945
WH.8.1. Reform, revolution, and social change in the world economy of the early century.
WH.8.1A. The student understands the world industrial economy emerging in the early 20th century.