Economics includes the study of production, distribution, and consumption of goods and services. Students need to understand how their economic decisions affect them, others icon

Economics includes the study of production, distribution, and consumption of goods and services. Students need to understand how their economic decisions affect them, others


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EOP Economics (Primary Matrix) (Page 1 of 1) Proficiency Quest

Economics includes the study of production, distribution, and consumption of goods and services. Students need to understand how their economic decisions affect them, others,

and the nation as a whole.

The basic economic problem confronting individuals and societies is scarcity (imbalance between unlimited wants and limited resources available for satisfying those wants).

Int

Dev

Mast

Rein

Related Assessments

Local

Resources

^ SS-EP-3.1.1 DOK 2

Students will define basic economic terms related to scarcity (e.g., opportunity cost, wants and needs, limited productive resources natural, human, capital) and explain that scarcity requires people to make economic choices and incur opportunity costs.













3,3,3,3,3,3,3,3,3

3,3,3,3,3,3




^ To deal with the problem of scarcity, people and societies create economic systems and institutions.







SS-EP-3.2.1

Students will identify and give examples of economic institutions (banks) and explain how they help people deal with the problem of scarcity (e.g., loan money, save money) in today’s market economy.













3,3




^ Markets are institutional arrangements that enable buyers and sellers to exchange goods and services.







^ SS-EP-3.3.1 DOK 2

Students will define basic economic terms related to markets (e.g., market economy, market, goods, services, profit, consumer, producer, supply, demand, barter, money, trade, advertising).













3,3,3,3,3,3

3,3,3,3,3




SS-EP-3.3.2

Students will explain different ways that people acquire goods and services (by trading/bartering goods and services for other goods and services or by using money).













3




^ All societies deal with questions about production, distribution, and consumption.







^ SS-EP-3.4.1 DOK 2

Students will define basic economic terms related to production, distribution and consumption (e.g., goods and services, wants and needs, supply and demand, specialization, entrepreneur) and describe various ways goods and services are distributed (e.g., by price, first-come-first-serve, sharing equally).













3,3,3,3




SS-EP-3.4.2

Students will describe how new knowledge, technology/tools, and specialization increases productivity in our community, state, nation, and world.













3,3,3,3




SS-EP-3.4.3

Students will define interdependence and give examples of how people in our communities, states, nation, and world depend on each other for goods and services.



















^ Academic Expectation(s)

2.18




Depth of Knowledge




^ Program of Studies

EOP










DOK 1

DOK 2

DOK 3

DOK 4






^ Additional Resources:

Kentucky Department of Education (KDE)

National Council for Social Sciences (NCSS)

^ American Memory (Library of Congress)

Sue Lebeau Economics Site

Bloom’s

Bloom’s & Williams

CPE’s

Economics Vocabulary




Academic Expectations for all Content Areas

Communication Skills 1.3 1.4 1.12

Problem Solving Skills 5.1 5.2 5.3 5.4 5.5

Connecting & Integrating Knowledge 6.1 6.2 6.3

Economics Continuum

Primary

Elementary

Middle Grade

High School







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