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SS.3.ECO.10.b.3:
Students will explore the basic economic concepts of supply and demand and how they influence prices and trade.
Standards Finder
NYS Social Studies Framework
Grade 3
Creation, Expansion, and Interaction of Economic Systems
Each community develops an economic system that addresses three questions: what will be produced, how will it be produced, and who will get what is produced?
World communities have needs, wants, and limited resources. To meet their needs and wants communities trade with others. Technological developments in transportation and communication have influenced trade.
Students will explore the basic economic concepts of supply and demand and how they influence prices and trade.
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