Nebraska Standards for 'Popcorn Economics'
Social Studies 4.8
Students will describe characteristics of a market economic system and the interactions of consumers and producers.
Example Indicators:
- Describe the concepts of scarcity, choice, and the use of limited natural, capital, and human resources in an economic system.
- Explain the specialization and interdependence of producers and consumers involved in producing goods and services.
- Demonstrate how markets and prices help consumers buy and producers supply products and services in an economic system.
- Identify how changing modes of transportation and communication by entrepreneurs have changed the economic system of the United States and Nebraska.
- Explain the purpose of taxes and their use and collection in an economic system.
Social Studies 8.3.5
Students will explain the structure and operation of the United States economy and the role of citizens as producers and consumers.
Example Indicators:
- Define the concepts of scarcity, choice, trade-offs, specialization, entrepreneurship, productivity, inflation, profits, markets, supply and demand, and unemployment and incentives.
- Analyze the effect of producer and consumer behavior on markets.
- Describe the role of individuals and businesses as consumers, savers, investors, and borrowers.
- Explain how various institutions help individuals and groups accomplish economic goals.
- Describe common forms of credit, savings, investments, purchases, and contractual agreements, e.g., warranties, and guarantees.
- Analyze skills necessary for career opportunities, e.g., individual abilities, skills, and education, and the changing supply and demand for those skills in the economy.
- Describe the development of money, savings, and credit.
