SS10.1.10

Social Studies (2010) Grade(s): 1

Students know:

How money plays a role in everyday life.
The difference between goods and services (for example, goods- food, toys, clothing; services - medical care, fire protection, law enforcement, library resources).
How money is the primary way to make purchases.
How money is earned through working (for example, job, chores, etc.).
The difference between purchases of needs and wants within their family.
How people save and borrow money.
How to differentiate between a buyer and seller.
Vocabulary: money, needs, wants, saving, borrowing, buyers, sellers, specialized jobs, goods, services, barter, trade, spend, save

Students are able to:

Recognize the primary role of money in everyday life.
Identify and describe needs and wants.
Describe saving and borrowing.
Describe buyers and sellers.
Describe the role specialized jobs play in the production of goods and services.
Identify and use appropriate vocabulary associated with the function of money (for example, barter, trade, spend, save).

Students understand that:

Money plays a role in everyday life.
Families make purchases of needs and wants. Students understand the concept of saving and borrowing.
There is a difference between buyers and sellers.
We can classify the specialized jobs of workers with regard to production of goods and services.
There is an appropriate vocabulary to use to describe the function of money.