Content Standard 3
Wyoming Social Studies Standards · 5th Grade
Production, Distribution, and Consumption - Students describe the influence of economic factors on societies and make decisions based on economic principles.
Grade5th Grade
SubjectSocial Studies
Levelstrand
Child standards (17)
- SS12.3.1Analyze the impact of supply, demand, scarcity, prices, incentives, competition, and profits on what is produced, distributed, and consumed.
- SS12.3.2Analyze and evaluate how people organize for the production, distribution, and consumption of goods and services in various economic systems (e.g., capitalism, communism, and socialism).
- SS12.3.3Analyze and evaluate the impact of current and emerging technologies at the micro and macroeconomic levels (e.g., jobs, education, trade, and infrastructure) and their impact on global economic interdependence.
- SS12.3.4Explain how financial and government institutions make economic decisions (e.g., banking, investment, credit, regulation, and debt).
- SS12.3.5Evaluate how values and beliefs influence microeconomic and macroeconomic decisions.
- SS2.3.1Give examples of and/or identify needs, wants, goods, and services.
- SS2.3.2Identify how price may affect buying, selling, and saving decisions.
- SS2.3.3Identify how science or technology affects production (e.g., assembly line, robots, and video streaming).
- SS5.3.1Give examples of needs, wants, goods, services, scarcity, and choice.
- SS5.3.2Identify basic economic concepts (e.g., supply, demand, price, and trade).
- SS5.3.3Identify and describe how science and technology have affected production and distribution locally, nationally, and globally (e.g., trains and natural resources).
- SS5.3.4Explain the roles and effect of money, banking, savings, and budgeting in personal life and society.
- SS8.3.1Identify and apply basic economic concepts (e.g., supply, demand, production, exchange and consumption, labor, wages, scarcity, prices, incentives, competition, and profits).
- SS8.3.2Compare and contrast how people organize for the production, distribution, and consumption of goods and services in various economic systems (e.g., characteristics of market, command, and mixed economies).
- SS8.3.3Describe the impact of technological advancements on production, distribution, and consumption. (e.g., businesses and/or corporations in the United States and the world).
- SS8.3.4Explain or illustrate how money is used by individuals, groups, and financial institutions.
- SS8.3.5Describe how values and beliefs influence individual, family, and business decisions (microeconomics).