Exchange and Markets

• D2.Eco.3.K-2
  Describe the skills and knowledge required to produce certain goods and services.
• D2.Eco.4.K-2
  Describe the goods and services that people in the local community produce and those that are produced in other communities.
• D2.Eco.5.K-2
  Identify prices of products in a local market.
• D2.Eco.6.K-2
  Explain how people earn income.
• D2.Eco.7.K-2
  Describe examples of costs of production.
• D2.Eco.8.K-2
  Begins in grades 3-5
• D2.Eco.9.K-2
  Describe the role of banks in an economy.
• D2.Eco.3.3-5
  Identify examples of the variety of resources (human capital, physical capital, and natural resources) that are used to produce goods and services.
• D2.Eco.4.3-5
  Explain why individuals and businesses specialize and trade.
• D2.Eco.5.3-5
  Explain the role of money in making exchange easier
• D2.Eco.6.3-5
  Explain the relationship between investment in human capital, productivity, and future incomes.
• D2.Eco.7.3-5
  Explain how profits influence sellers in markets.
• D2.Eco.8.3-5
  Identify examples of external benefits and costs.
• D2.Eco.9.3-5
  Describe the role of other financial institutions in an economy.
• D2.Eco.3.6-8
  Explain the roles of buyers and sellers in product, labor, and financial markets.
• D2.Eco.4.6-8
  Describe the role of competition in the determination of prices and wages in a market economy.
• D2.Eco.5.6-8
  Explain ways in which money facilitates exchange by reducing transactional costs.
• D2.Eco.6.6-8
  Explain how changes in supply and demand cause changes in prices and quantities of goods and services, labor, credit, and foreign currencies.
• D2.Eco.7.6-8
  Analyze the role of innovation and entrepreneurship in a market economy.
• D2.Eco.8.6-8
  Explain how external benefits and costs influence market outcomes.
• D2.Eco.9.6-8
  Describe the roles of institutions such as corporations, non-profits, and labor unions in a market economy.
• D2.Eco.3.9-12
  Analyze the ways in which incentives influence what is produced and distributed in a market system.
• D2.Eco.4.9-12
  Evaluate the extent to which competition among sellers and among buyers exists in specific markets.
• D2.Eco.5.9-12
  Describe the consequences of competition in specific markets.
• D2.Eco.6.9-12
  Generate possible explanations for a government role in markets when market inefficiencies exist.
• D2.Eco.7.9-12
  Use benefits and costs to evaluate the effectiveness of government policies to improve market outcomes.
• D2.Eco.8.9-12
  Describe the possible consequences, both intended and unintended, of government policies to improve market outcomes.
• D2.Eco.9.9-12
  Describe the roles of institutions such as clearly defined property rights and the rule of law in a market economy.