Learning About the World

Social Studies


Economics

Goal 1: Children describe how people interact economically and the occupations that people do to support themselves and society. They also learn about the economic interdependent relationships among people in our society.

By the end of each age group or grade level, most children will have met prior age group or grade level standards in this domain.

Infants Through Older Toddlers

Infants

(0-12 Months)

  1. N/A

Young Toddlers

(9-18 Months)

  1. Use concept of “more” (e.g., sign, verbalizes or indicates “more”)

Older Toddlers

(18-36 Months)

  1. Use basic concept of trading with others to get a desired object
  2. Identify occupations familiar people have (e.g., Mommy is a teacher.)
Younger Preschoolers Through Kindergartners

Younger Preschoolers

(36-48 months)

  1. Explain reasons why people work (e.g., to buy food)
  2. Use pretend money during dramatic play to purchase goods and services
  3. Describe some occupations and the work people in those occupations do (e.g., firefighter, teacher)

Older Preschoolers

(48-60 months)

  1. Describe how people interact economically (e.g., use money to purchase things or services)
  2. Describe roles and responsibilities of several occupations, especially those the child is familiar with (e.g., dentist, janitor, farmer)
  3. Identify basic needs people have (e.g., food, clothing)

Kindergartners

  1. Participate in activities as a buyer or seller (e.g., store in dramatic play, a school store)
  2. Identify economic activities that use resources in the local community (e.g., famers’ markets)
  3. Identify jobs people do at home and at school
  4. Describe ways in which people exchange money for goods
  5. Differentiate between basic needs and wants (e.g., food, clothing, shelter and affection vs toys and candy)
  6. Explain why people earn, spend and save money
First Graders Through Third Graders

First Graders

  1. Participate in activities as a buyer or seller (e.g., bake sale, school store), and discuss where goods come from (e.g., clothing, toys, foods).
  2. Identify economic activities that use resources in the local region (e.g., maple syrup production, logging)
  3. Identify jobs people do in the community, and the value these jobs bring to the community (e.g., road crews help keep people safe while driving).
  4. Identify some goods and services that are provided by the local government (e.g., schools, parks, police, fire protection)
  5. Describe ways in which people exchange money for goods (e.g., buying lunch or snack)
  6. Differentiate between basic needs and wants (e.g., food, clothing, shelter, and affection vs. toys and sweets).
  7. Explain why people earn, spend, and save

Second Graders

  1. Participate in activities as a buyer or seller (e.g., bake sale, school store), and discuss where goods come from (e.g., clothing, toys, foods).
  2. Identify economic activities that use resources in the local region (e.g., maple syrup production, logging)
  3. Identify jobs people do in the community, and the value these jobs bring to the community (e.g., road crews help keep people safe while driving).
  4. Identify some goods and services that are provided by the local government (e.g., schools, parks, police, fire protection)
  5. Describe ways in which people exchange money for goods (e.g., buying lunch or snack)
  6. Differentiate between basic needs and wants (e.g., food, clothing, shelter, and affection vs. toys and sweets).
  7. Explain why people earn, spend, and save

Third Graders

  1. Trace the production, distribution, and consumption of goods in Vermont (e.g., after visiting a sugar house, trace the distribution of locally-produced maple syrup)
  2. Describe how producers in Vermont have used natural, human, and capital resources to produce goods and services (e.g., describe the natural, human, and capital resources needed to produce maple syrup)
  3. Describe the causes and effects of economic activities on the environment in Vermont (e.g., granite industry)
  4. Identify goods and services provided by local and state governments (e.g., firefighters, highways, museums)
  5. Explain the relationship between taxation and governmental goods and services in Vermont (e.g., town taxes provide for road up keep)
  6. Describe and discuss the advantages and disadvantages of using currency vs. bartering in the exchange of goods and services (e.g., an advantage of bartering is that one doesn’t need money, a disadvantage is determining fairness)
  7. Examine factors that influence supply and demand (e.g., Why is Vermont considering investments in wind energy?)
  8. Explain ways people meet their basic needs and wants (e.g., people buy oil because they need heat)
  9. Compare prices of goods and services
  10. Explain how people save (e.g., by giving up something you want, by saving your allowance, by putting money in the bank)

Vermont Agency of Education
Secretary Daniel M. French
219 North Main Street, Suite 402
Barre, VT 05641

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