1-6.4
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.
1-6.4: Recognize the roles of producers and consumers and the ways in which they are interdependent.
It Is Essential For Students to Know:
- It is essential for students to know how families meet their wants and needs through the purchase and provision of goods and services.
- It is essential for students to understand that they have important roles as consumers, or buyers, in the marketplace.
- Students must understand that individuals serve as producers of goods and services in their role as workers and business owners.
It Is Not Essential For Students To Know:
- It is not essential for students to know how to graphically illustrate supply and demand or to understand the law of supply or demand.
- Students do not need to understand the characteristics that cause demand or supply changes.
- It is not essential for students to understand conceptually or graphically the role of price in the interdependence of consumers and producers.
1-6.4 Links To Information For teachers