Identify what one gains and gives up when they make choices.
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.
Explain how needs, wants, and the availability of resources affect decision making.
Identify the benefits and costs of making various personal decisions.
Examine concepts of scarcity, choice, opportunity cost, and risk.
Explain how needs, wants, and availability of resources affect decision making.