Grade 2 Social Studies

Standard 4: Economics

Content Standard 4: The student will understand basic economic concepts in the American economy.
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Explain the importance of supply and demand in the consumer and producer relationship.
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Explain how barter and trade can lead to interdependence among communities.
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Describe the connection between taxes and community services, including schools, sanitation and water, fire and police protection, parks and recreation, libraries, and roads.
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Describe how setting goals and creating a budget helps people pay for things they need and want.