New Mexico Content Standards
NM.IV: Economics: Students understand basic economic principles and use economic reasoning skills to analyze the impact of economic systems (including the market economy) on individuals, families, businesses, communities, and governments. Students will:
4-A: Explain and describe how individuals, households, businesses, governments and societies make decisions, are influenced by incentives (economic as well as intrinsic) and the availability and use of scarce resources, and that their choices involve costs and varying ways of allocating:
4-A:1. Explain and provide examples of economic goals;
4-A:2. Analyze the full costs and benefits of alternative uses of resources that will lead to productive use of resources today and in the future; and
4-B: Explain how economic systems impact the way individuals, households, businesses, governments and societies make decisions about resources and the production and distribution of goods and services:
4-B:1. Describe the relationships among supply, demand and price and their roles in the United States market system;
4-B:2. Identify how fundamental characteristics of the United States' economic system influence economic decision making (e.g., private property, profits, competition) at local, state, tribal and national levels;
4-B:3. Explain changing economic activities in the United States and New Mexico and the role of technology in those changes;
4-B:5. Describe the use of money over time (e.g., college funds beginning in elementary years, saving accounts, 401K accounts).
4-C: Describe the patterns of trade and exchange in early societies and civilizations and explore the extent of their continuation in today's world:
4-C:1. Explain how specialization leads to interdependence and describe ways most Americans depend on people in other households, communities and nations for some of the goods they consume;
4-C:2. Understand the interdependencies between the economies of New Mexico, the United States and the world;
NM.RH.6-8. Reading Standards for Literacy in History/Social Studies
Craft and Structure
RH.6-8.4. Determine the meaning of words and phrases as they are used in a text, including vocabulary specific to domains related to history/social studies.
RH.6-8.5. Describe how a text presents information (e.g., sequentially, comparatively, causally).
Range of Reading and Level of Text Complexity
RH.6-8.10. By the end of grade 8, read and comprehend history/social studies texts in the grades 6-8 text complexity band independently and proficiently.