Grade 1 Social Studies

Standard 4: Economics

Content Standard 4: The student will describe the characteristics of the American economic system
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1.4.1
Explain the costs and benefits of spending and saving in order to meet needs and wants.
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1.4.2
Describe ways people are paid for their labor and how goods and services are purchased using money and credit.
1.4.3
Identify and explain the roles of consumers and producers in the American economy
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1.4.4
Describe the role of banks in the community.
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