Common Planner
K–12 Standards

Kindergarten through Grade 2 Economics Standards

Other Alaska Social Studies sets

Economic Systems, Models, and MarketsSS.K‐2.11

  • 1

    Describe the skills and knowledge required to produce certain goods and services.SS.K‐2.11.1

    1. K

      By the end of K: 1 With support, identify examples of goods and services.SS.K.1.11

    2. 1

      By the end of 1: With support, explain the difference between producers and consumers.SS.1.1.11.1

    3. 2

      By the end of 2: Describe the skills and knowledge required to produce certain goods and services.SS.2.1.11.1

  • 2

    Describe the goods and services that people in the local community produce and those that are produced in other communities.SS.K‐2.11.2

    1. K

      By the end of K: Participate in discussions about goods and services in the local community.SS.K.2.11.1

    2. 1

      By the end of 1: Compare and contrast goods produced in the local community with those produced elsewhere.SS.1.2.11.1

    3. 2

      By the end of 2: Describe the goods and services that people in the local community produce and those that are produced in other communities.SS.2.2.11.1

  • 3

    Identify prices of products in a local market. SS.K‐2.11.3

    1. K

      By the end of K: [standard not addressed at this grade]

    2. 1

      By the end of 1: Identify prices of products in a local market.SS.1.3.11.1

    3. 2

      By the end of 2: Compare the prices of locally produced and non‐locally produced goods in local markets.SS.2.3.11.1

  • 4

    Explain how people earn income.SS.K‐2.11.4

    1. K

      By the end of K: Participate in discussions about how people work to support their families.SS.K.4.11.1

    2. 1

      By the end of 1: Define income.SS.1.4.11.1

    3. 2

      By the end of 2: Explain how and why people earn money.SS.2.4.11.1

  • 5

    Describe examples of costs of production.SS.K‐2.11.5

    1. K

      By the end of K: [standard not addressed at this grade]

    2. 1

      By the end of 1: [standard not addressed at this grade]

    3. 2

      By the end of 2: Describe examples of costs of production for local goods and services.SS.2.5.11.1

  • 6

    Describe the role of banks in an economy.SS.K‐2.11.6

    1. K

      By the end of K: [standard not addressed at this grade] 

    2. 1

      By the end of 1: [standard not addressed at this grade]

    3. 2

      By the end of 2: Participate in discussions about the role of banks in the local economy.SS.2.6.11.1

Decision‐Making and Personal FinanceSS.K‐2.12

  • 1

    Explain how scarcity necessitates decision‐making.SS.K‐2.12.1

    1. K

      By the end of K: With support, explain the difference between needs and wants.SS.K.1.12.1

    2. 1

      By the end of 1: Identify situations where goods are in high or low demand.SS.1.1.12.1

    3. 2

      By the end of 2: Define scarcity and explain how it affects decision‐ making.SS.2.1.12.1

  • 2

    Identify the benefits and costs of making various personal decisions. SS.K‐2.12.2

    1. K

      By the end of K: Explain why people have to make choices between needs and wants.SS.K.2.12.1

    2. 1

      By the end of 1: Explain how and why households make choices between needs and wants.SS.1.2.12.1

    3. 2

      By the end of 2: Identify the costs and benefits of personal decisions to the community, and vice versa. SS.2.2.12.1

The National EconomySS.K‐2.13

  • 1

    Explain why people save.SS.K‐2.13.1

    1. K

      By the end of K: With support, explain why people save and provide examples from personal experience or literature. SS.K.1.13.1

    2. 1

      By the end of 1: Examine decisions that people make about spending and saving money.SS.1.1.13.1

    3. 2

      By the end of 2: Classify savings goals as short‐term or long‐term.SS.2.1.13.1

  • 2

    Describe examples of the goods and services that governments provide. SS.K‐2.13.2

    1. K

      By the end of K: [standard not addressed at this grade]

    2. 1

      By the end of 1: With support, describe the difference between public and private providers of goods and services in the local community.SS.1.2.13.1

    3. 2

      By the end of 2: Identify examples of the goods and services that local governments provide.SS.2.2.13.1

  • 3

    Describe examples of capital goods and human capital. SS.K‐2.13.3

    1. K

      By the end of K: [standard not addressed at this grade]

    2. 1

      By the end of 1: [standard not addressed at this grade]

    3. 2

      By the end of 2: Describe local examples of capital goods and human capital. SS.2.3.13.1

The Global Economy SS.K‐2.14

  • 1

    Describe why people in one country trade goods and services with people in other countries.SS.K‐2.14.1

    1. K

      By the end of K: Describe goods that are produced in the local geographic region.SS.K.1.14.1

    2. 1

      By the end of 1: Explain that people need to trade for resources not found in their geographic region.SS.1.1.14.1

    3. 2

      By the end of 2: Explain why people in one country trade goods and services with people in other countries.SS.2.1.14.1

  • 2

    Describe products that are produced abroad and sold domestically and products that are produced domestically and sold abroad.SS.K‐2.14.2

    1. K

      By the end of K: [standard not addressed at this grade]

    2. 1

      By the end of 1: Sort resources into categories based on location of origin.SS.1.2.14.1

    3. 2

      By the end of 2: Categorize and describe products that are produced abroad and sold domestically and products that are produced domestically and sold abroad.SS.2.2.14.1

Alaska Economies: State, Local, and TribalSS.K‐2.15

  • 1

    Explain different economic systems used by groups of Alaskans locally across time. SS.K‐2.15.1

    1. K

      By the end of K: Demonstrate how sharing and bartering are basic economic systems.SS.K.1.15.1

    2. 1

      By the end of 1: Identify different ways of acquiring what you need and want in Alaska.SS.1.1.15.1

    3. 2

      By the end of 2: Explore and be able to explain traditional economic practices of the local region.SS.2.1.15.1

Frequently asked questions

What grade levels do these standards cover?
Kindergarten, Grade 1, and Grade 2
Where can I read the official document?
Alaska Social Studies Standards

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Sibling grade bands, other subjects in this jurisdiction, and the same subject across other states.

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