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Standards for The Write Stuff

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National Standards in Economics

Name: Allocation

Standard: 3

  • Students will understand that: Different methods can be used to allocate goods and services. People acting individually or collectively must choose which methods to use to allocate different kinds of goods and services.
  • Students will be able to use this knowledge to: Evaluate different methods of allocating goods and services, by comparing the benefits to the costs of each method.

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.

State Standards