Identify the benefits and costs of making various personal decisions.
By applying economic reasoning, individuals seek to understand the decisions of people, groups, and societies.
No resources have been tagged as aligned with this standard.
Examine concepts of scarcity, choice, opportunity cost, and risk.
Identify what one gains and gives up when they make choices.
Identify opportunity costs in personal decision-making situations.
Compare the benefits and costs of individual choices within the context of key historical events.
Explain how needs, wants, and the availability of resources affect decision making.