1-6.3
Standard 1-6: The student will demonstrate an understanding of how and why people make economic choices and the importance of these choices for families.
1-6.3: Identify ways that families and communities cooperate and compromise in order to meet their needs and wants. (E, P)
It Is Essential For Students To Know:
- It is essential for students to know that individuals and communities use productive resources to meet their needs and wants.
- Students must understand that their needs and wants are met with goods and services.
- It is important for students to understand how businesses also use productive resources to produce goods and service and to meet the wants and needs of the community.
- It is essential for students to understand that it is through the interaction and interdependence of individuals, families, and businesses that communities decide how and what to produce for their society.
It Is Not Essential For Students To Know:
- It is not essential for students to know the different forms of businesses and the advantages and disadvantages of each form of business.
- Students do not need to provide examples of productive resources.
- It is not essential for students to identify the resources necessary in the production of a good or service.