Common Planner
K–12 Standards

Economics: Grade 4

Other Pennsylvania Social Studies sets

Scarcity and Choice

  •  

    Scarcity and Choice

    1. A.

      Identify scarcity of resources in a local community.6.1.4.A

  •  

    Limited Resources

    1. B.

      Recognize the difference between basic needs and wants. Explain the role of producers in making goods and providing services.6.1.4.B

  •  

    Opportunity Costs

    1. C.

      Illustrate what individuals or organizations give up when making a choice.6.1.4.C

  •  

    Incentives and Choice

    1. D.

      Explain what influences the choices people make6.1.4.D

Markets and Economic Systems

  •  

    Goods and Services

    1. A.

      Explain how a product moves from production to consumption.6.2.4.A

  •  

    Market Competition

    1. B.

      Determine how sellers compete with one another.6.2.4.B

  •  

    Advertising and Media

    1. C.

      Differentiate between monetary and non-monetary incentives in advertising.6.2.4.C

  •  

    Price Determination

    1. D.

      Explain the role of buyers and sellers in determining prices of products.6.2.4.D

  •  

    Economic Health

    1. E.

      Explain why local businesses open and close.6.2.4.E

  •  

    Private Economic Institutions

    1. F.

      Describe the role of a private economic institution in the local community.6.2.4.F

  •  

    Economic Systems

    1. G.

      Explain the three basic questions all economic systems must answer.<ul><li>What to produce?</li><li>How?</li><li>For whom?</li></ul>6.2.4.G

Functions of Government

  •  

    Goods and Services

    1. A.

      Explain how government responds to social needs by providing public goods and services.6.3.4.A

  •  

    Government Involvement in the Economy

    1. B.

      Describe the impact of government involvement in state and national economic activities.6.3.4.B

  •  

    Taxation

    1. C.

      Explore ways in which tax revenues are used in local community.6.3.4.C

Economic Interdependence

  •  

    Specialization

    1. A.

      List and explain factors that promote specialization and division of labor.6.4.4.A

  •  

    Trade

    1. B.

      Explain why nations trade.6.4.4.B

Income, Profit, and Wealth

  •  

    Labor Productivity

    1. B.

      Identify the requirements for different careers and occupations.6.5.4.B

  •  

    Costs and Benefits of Saving

    1. G.

      Compare different ways people save.6.5.4.G

  •  

    Interest Rates

    1. H.

      Examine the basic operation of the banking system.6.5.4.H

Frequently asked questions

What grade levels do these standards cover?
Grade 4
When were these standards adopted?
2009
Where can I read the official document?
Academic Standards for Economics (Elementary)

Keep exploring

Keep exploring Social Studies standards

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

More Pennsylvania Social Studies sets

Social Studies

Other Pennsylvania subjects

Pennsylvania