toll
free
(877) 687-7200
Forgot password?
Username: Password:

Elementary School | Social Studies | Economics

Understand economic systems, with an emphasis on the United States. People's lives are directly affected by the economies of cities, states, nations and the world. All people engage in economic activity: buying, selling, trading, producing and consuming. By understanding economic systems—and how economics blends with other social sciences, students will be able to make more informed choices, prudently use resources and function as effective participants in the economies around them.

Learning Objectives Grades K-2

Understand how different economic systems operate in the exchange, production, distribution and consumption of goods and services:

  • Identify advantages and disadvantages of different ways to distribute goods and services.
  • Describe how wages/salaries can be earned in exchange for work.

Understand that scarcity necessitates choices by consumers:

  • Explain why consumers must make choices.

Understand that scarcity necessitates choices by producers:

  • Describe how human, natural and capital resources are used to produce goods and services.
  • Identify limitations in resources that force producers to make choices about what to produce.

Understand trade as an exchange of goods or services:

  • Demonstrate the benefits of simple voluntary exchanges.
  • Know that barter is a type of exchange and that money makes exchange easier.

Understand the impact of government policies and decisions on production and consumption in the economy:

  • Identify goods and services provided by government.

Learning Objectives Grades 3-5

Understand how different economic systems operate in the exchange, production, distribution and consumption of goods and services:

  • Explain how economic systems decide what goods and services are produced, how they are produced and who consumes them.
  • Describe how incomes reflect choices made about education and careers.
  • Describe unemployment.

Understand that scarcity necessitates choices by consumers:

  • Identify factors that affect how consumers make their choices.
  • Explain the relationship between the quantity of goods/services purchased and their price.
  • Explain that when a choice is made, something else is given up.

Understand that scarcity necessitates choices by producers:

  • Describe the relationship between price and quantity supplied of a good or service.
  • Identify and explain examples of competition in the economy.
  • Describe how entrepreneurs take risks in order to produce goods or services.

Understand trade as an exchange of goods or services:

  • Explain why people and countries voluntarily exchange goods and services.
  • Describe the relationships among specialization, division of labor, productivity of workers and interdependence among producers and consumers.

Understand the impact of government policies and decisions on production and consumption in the economy:

  • Explain how and why public goods and services are provided.
  • Identify which public goods and services are provided by differing levels of government.

Compare Our Programs

eTutor offers two programs to choose from:

  • Independent Study
  • One 2 One Study

Independent Study is ideal for self motivated students, while One 2 One Study includes access to a tutor for additional support.

Compare our programs.

The Curriculum

  • 3,000+ lesson modules
  • 200+ authors
  • 20+ subjects
  • 4 curricular areas

Explore the curriculum.

Accreditation

NCA
  • Easy credit transfer
  • Quality assurance
  • Access to loans & scholarships

More about accreditation.