Content Standard 1: Scarcity

Grade 8 Benchmarks

2. Making good choices should involve trading off the expected value of one opportunity against the expected value of its best alternative.

3. The choices people make have both present and future consequences.

Content Standard 10: Institutions

Grade 8 Benchmark

2. Banks and other financial institutions channel funds from savers to borrowers.

Content Standard 12: Interest Rates

Grade 8 Benchmark

1. An interest rate is a price of money that is borrowed or saved.

Content Standard 15: Economic Growth

Grade 8 Benchmark

3. Technological change results from an advance in knowledge leading to new and improved goods and services and better ways of producing them.

Content Standard 18: Economic Fluctuations

Grade 8 Benchmark

5. When consumers make purchases, goods, and services are transferred from businesses to households in exchange for money payments. That money is used by businesses to pay for productive resources (natural, human, capital).

Content Standard 2: Buying Goods and Services

Grade 8 Benchmark

3. People choose from a variety of payment methods in order to buy goods and services.

4. Choosing a payment method entails weighing the costs and benefits of the different payment options.

Grade 12 Benchmark

7. Governments establish laws and institutions to provide customers with information about goods or services being purchased and to protect consumers from fraud.

Content Standard 6: Protecting and Insuring

Grade 8 Benchmark

8. Social networking sites and other online activity can make individuals vulnerable to harm caused by identity theft or misuse of their personal information.

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