Standard 1: Market Economy

General Information
Number: SS.5.E.1
Title: Market Economy
Type: Standard
Subject: Social Studies
Grade: 5
Strand: Economics

Related Benchmarks

This cluster includes the following benchmarks.

Related Access Points

This cluster includes the following access points.

Independent

SS.5.E.1.In.0
Identify examples of how people traded with each other in North America from pre-Columbian times to 1850.
SS.5.E.1.In.1
Identify a characteristic of a market economy, such as available resources, demand, or available labor.
SS.5.E.1.In.2
Identify major inventions during the early development of the United States, such as the Franklin stove, bifocals, and cotton gin.

Supported

SS.5.E.1.Su.0
Recognize that different groups of people traded with each other in North America from pre-Columbian times to 1850.
SS.5.E.1.Su.1
Recognize that people produce goods that others want to buy (market economy).
SS.5.E.1.Su.2
Recognize a major invention during the early development of the United States, such as the Franklin stove, bifocals, or cotton gin.

Participatory

SS.5.E.1.Pa.0
Recognize that people trade goods and services.
SS.5.E.1.Pa.1
Recognize that people trade goods and services.
SS.5.E.1.Pa.2
Identify an invention that helps people, such as a stove.

Related Resources

Vetted resources educators can use to teach the concepts and skills in this topic.

Lesson Plan

Inventions and Innovations MEA:

Inventive minds have persisted throughout history. Inventors have improved our lives with inventions created out of a desire to solve a problem or make the quality of peoples' lives better. Our president is concerned that we are not keeping up with other countries in the area of engineering and inventive thinking. Why is this? As students explore famous inventions from around the world throughout history, they will decide what the best inventions of all time are and support their opinion with strong reasons.

Type: Lesson Plan

Student Resources

Vetted resources students can use to learn the concepts and skills in this topic.

Parent Resources

Vetted resources caregivers can use to help students learn the concepts and skills in this topic.