National Standards in Economics

Below are the National Standards in Economics that most closely relate to the following lesson. Switch to National Standards in Personal Finance


LESSON

Theme 3: Lesson 9 - More About Methods of Payment

http://fffl.councilforeconed.org/lessons.php?lid=68172&gradeLevel=3-5

Grades: 3-5


STANDARDS

Standard: 12

Grades: 4-12

  • Interest Rates
  • Students will understand that: Interest rates, adjusted for inflation, rise and fall to balance the amount saved with the amount borrowed, which affects the allocation of scarce resources between present and future uses.
  • Students will be able to use this knowledge to: Explain situations in which they pay or receive interest, and explain how they would react to changes in interest rates if they were making or receiving interest payments.

Standard: 1

Grades: 4-12

  • Scarcity
  • Students will understand that: Productive resources are limited. Therefore, people cannot have all the goods and services they want; as a result, they must choose some things and give up others.
  • Students will be able to use this knowledge to: Identify what they gain and what they give up when they make choices.

Copyright © 2018 Council for Economic Education