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Standards for I Have No Money, Would You Take Wampum?

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National Standards in Economics

Name: Money and Inflation

Standard: 11

  • Students will understand that: Money makes it easier to trade, borrow, save, invest, and compare the value of goods and services. The amount of money in the economy affects the overall price level. Inflation is an increase in the overall price level that reduces the value of money.
  • Students will be able to use this knowledge to: Explain how their lives would be more difficult in a world with no money, or in a world where money sharply lost its value.

Name: Specialization

Standard: 6

  • Students will understand that: When individuals, regions, and nations specialize in what they can produce at the lowest cost and then trade with others, both production and consumption increase.
  • Students will be able to use this knowledge to: Explain how they can benefit themselves and others by developing special skills and strengths.

National Standards in Financial Literacy

Name: Buying Goods and Services

Standard:

  • Students will understand that: People cannot buy or make all the goods and services they want; as a result, people choose to buy some goods and services and not buy others. People can improve their economic wellbeing by making informed spending decisions, which entails collecting information, planning, and budgeting.

State Standards

Common Core State Standards

Name: CCRA.L.6

Standard: College and Career Readiness Anchor Standards for Language

Area: College and Career Readiness Anchor Standards for Language

  • Acquire and use accurately a range of general academic and domain-specific words and phrases sufficient for reading, writing, speaking, and listening at the college and career readiness level; demonstrate independence in gathering vocabulary knowledge when encountering an unknown term important to comprehension or expression.

Name: CCRA.R.10

Standard: College and Career Readiness Anchor Standards for Reading

Area: College and Career Readiness Anchor Standards for Reading

  • Read and comprehend complex literary and informational texts independently and proficiently.

Name: CCRA.R.2

Standard: College and Career Readiness Anchor Standards for Reading

Area: College and Career Readiness Anchor Standards for Reading

  • Determine central ideas or themes of a text and analyze their development; summarize the key supporting details and ideas.

Name: CCRA.SL.1

Standard: College and Career Readiness Anchor Standards for Speaking and Listening

Area: College and Career Readiness Anchor Standards for Speaking and Listening

  • Prepare for and participate effectively in a range of conversations and collaborations with diverse partners, building on others’ ideas and expressing their own clearly and persuasively.

Name: CCRA.SL.2

Standard: College and Career Readiness Anchor Standards for Speaking and Listening

Area: College and Career Readiness Anchor Standards for Speaking and Listening

  • Integrate and evaluate information presented in diverse media and formats, including visually, quantitatively, and orally.