Content Standard: Economics
A. Personal and Consumer Economics
Students will understand that economic decisions are based on the availability of resources and the costs and benefits of choices.
Common Assessment(s): Decisions, Decisions!! (LAD)

Performance Indicators Students will be able to:	Essential Elements (Specific grade level learning objectives)			Suggested Performance Activities	Suggested Classroom Assessments	Vocabulary
1. Describe barter and money and how each is used in the exchange of resources, goods, and services.	Barter and exchange of money in personal lives in Pilgrim times			The students will define and discuss barter as related to their lives (baseball cards, etc.) They will list things people buy and why they buy them, and they will categorize these as goods or services. They will discuss how the Pilgrims used barter.	The students will cut pictures from magazines and categorize them as either goods or services.	Pilgrims natural resources human resources profit surplus goods services barter
2. Identify a situation in which a personal decision is made about the use of scarce resources (e.g., deciding to use allowance to go to the movies instead of buying a gift for a family member).	Decision-making based on needs, wants, and resources.			The students will talk about allowances and ways they can earn money. They will discuss how their families make decisions about spending money. They will make a chart comparing needs and wants.	The students will write a story about a time they had to make a decision about how to spend their money.	allowance earnings needs wants