Standards for The Write Stuff

Standard: 9

Name: International Trade

International trade can increase the total amount of goods and services available, but these gains are not distributed equally between or within countries. Governments use trade policies such as tariffs or subsidies to change trade flows with different countries.

• K-5: Elementary school students learn what trade, exports, and imports are and how they connect countries.
• 6-8: Middle school students learn about gains from trade and how these gains might not be equally distributed. They also learn reasons why countries might decide to restrict trade.
• 9-12: High school students are formally introduced to the idea of comparative advantage and reasons countries may have a comparative advantage. The debate on globalization and regionalization is discussed. Finally, students are introduced to exchange rates and learn how a change in exchange rates affects prices of traded goods.Benchmark Students will know that: Students will use this knowledge to: 9.E.1 International trade is people and businesses in different countries buying and selling goods and services from each other, offering more choices and improving the quality of life of their people. By specializing in making certain products, countries can trade for other things they need, making everyone better off.Give real-world examples of international trade, such as Mexico selling avocados and mangoes to the United States and in return the United States selling machinery and technology to Mexico. 9.E.2 Trade makes countries more interdependent because countries rely on each other for certain goods and services.Explain how trade leads to interdependence between countries and why it is important for countries to trade with each other. 9.E.3 Exports are domestic goods and services that are sold to buyers in other countries. Imports are foreign goods and services that are purchased from sellers in other countries.Give examples of major products that are produced in the United States and exported to other countries, and identify these countries. Examine labels of products that are consumed or used daily at school or at home and compile a list of imported products and the countries from which they are imported.E: ELEMENTARY STUDENTS National Content Standards in K–12 Economics | 36 Standard 9: International Trade

Standard: 1

Name: Scarcity and Allocation

Productive resources are limited. Therefore, people must choose which goods and services they want and which to forego, and they must also select a method for how to allocate these goods and services.

• K-5: Elementary students are introduced to wants and how goods and services satisfy those wants. The four types of resources are defined, with entrepreneurship included as a resource. Students are introduced to the concept of scarcity. They learn that due to scarcity, they cannot have everything they want and therefore, decisions need to be made in some manner.
• 6-8: Middle school students delve more deeply into the concept of scarcity and the implication of scarcity in terms of the types of choices that scarcity forces society to make. The different types of economic systems societies might use are presented.
• 9-12: High school students are given criteria by which to judge economic systems and policies and are introduced to how scarcity of resources leads to a trade-off between the goods a country produces.Benchmark Students will know that: Students will use this knowledge to: 1.E.1 Economic wants are desires that can be satisfied by consuming a good (an object) or a service (an action).Match a list of wants with the correct example of a good or service that satisfies each want. 1.E.2 Goods are things that people use to satisfy their wants. People can touch, see, consume, or play with goods. Services are things that people do for other people.Identify examples of goods used in the classroom; identify the service provided by a teacher, hair stylist, mechanic, or other producers in the community. 1.E.3 Producers are people who make or grow goods and provide services. Consumers are people who buy or use goods and services.Identify people who are consumers and give examples of goods or services they use or buy. Identify people who are producers and give examples of goods and services they make or grow. Give examples of when they have been consumers and producers. 1.E.4 Productive resources are the capital resources, natural resources, and human resources available to make goods and services. Entrepreneurs combine resources to create new businesses and, therefore, are considered a separate productive resource.Identify the resources required to begin a business the student would like to own, making sure to include each category of resources. 1.E.5 Capital resources are goods that are produced and used to make other goods and services. They can be used over and over again in the production process. They are also called capital goods or physical capital.Draw a picture representing a capital resource used at school. Identify examples of capital resources used to produce a good or service in their community.E: ELEMENTARY STUDENTSThe Standards and Benchmarks Notes: The standard is found at the top of each section. The standard is followed by a narrative on how the standard is designed, in other words, the guiding ideas behind the benchmarks for each level. Benchmarks are provided for three levels: elementary, middle, and high school. The benchmarks do not provide a specific grade level; that determination should be done by local teachers, schools, and districts. The final determination of grade level will vary depending on the students as well as the overall design of the school or district plans. National Content Standards in K–12 Economics | 8 Standard 1: Scarcity and Allocation

Standard: 3

Name: Specialization and Exchange

Specialization and the division of labor allow people to benefit from voluntary exchange. Voluntary exchange occurs only when all participating parties expect to gain.

• K-5: Elementary students learn about the benefits of specialization and the division of labor. They understand that exchange becomes necessary when people have specialized in a skill. Barter is identified as an inefficient way to trade and how money makes trading easier is discussed in Standard 13.
• 6-8: By middle school, students are expected to understand that both buyers and sellers anticipate benefiting from exchange.
• 9-12: The high school student learns how transaction costs may limit trade. The role of markets is outlined in Standard 4.Benchmark Students will know that: Students will use this knowledge to: 3.E.1 Most people produce and consume goods and services.Give an example of a good a farmer or florist produces and a good or service they consume. 3.E.2 Economic specialization occurs when people concentrate their production on fewer varieties of goods and services than they consume.Name several adults in the school or community who specialize in the production of a good or service (plumber, law enforcement officer, teacher, hair stylist, etc.) and identify other goods and services that these individuals consume but do not produce for themselves. 3.E.3 Division of labor occurs when the production of a good or service is broken down into numerous separate tasks, with different workers performing each task.Participate in a simulated assembly line and identify the separate operations and the different tasks involved. Identify examples of goods produced in the U.S. using division of labor. 3.E.4 Specialization and division of labor usually increase the productivity of workers.Work individually as a craftsperson to produce a product alone and then work as a member of a small group to produce the same product. Explain why more products usually are produced when each member of the group performs a particular task in making the good. 3.E.5 People specialize in producing what they do best and then exchange their income for goods and services they do not produce.Describe how a specialist’s life such as a long-haul truck driver, accountant, lawyer, or childcare worker would change if they were unable to exchange their income to buy goods or pay for services needed.E: ELEMENTARY STUDENTS National Content Standards in K–12 Economics | 17 Standard 3: Specialization and Exchange