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): Meeting Basic Needs (LAD) (see also Economics C)

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 Maine native Americans settlers in Maine			Students will discuss barter in connection with On the Way North, Sign of the Beaver, and Fort Western. They will discuss why they think people use money now in place of barter. The will review the terms goods and services.	The students will make a T chart listing examples of goods and services. They will explain what they could barter for one of these 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 review "needs vs. wants." They will keep track over a one week period how they spend their money. A class graph will be constructed to show the results.	The students will write a paragraph analyzing the graph.	.