Social Studies | Standards

Build Something Better: Economic Impacts of Development

Academic Standards

This lesson is aligned with the McRel Learning Standards for Economics.

McRel Economics:

• Level III (Grades 6-8)
  • Standard 2: Understands characteristics of different economic systems, economic institutions, and economic incentives.
    • 9. Understands that many non-economic factors (e.g., cultural traditions and customs, values, interests, abilities) influence patterns of economic behavior and decision-making.
• Level IV (Grades 9-12)
  • Standard 4: Understands basic features of market structures and exchanges.
    • 4. Understands that the introduction of new products and production methods by entrepreneurs is an important form of competition and source of technological progress and economic growth.
    • 5. Understands that externalities are unintended positive or negative side effects that result when the production or consumption of a good or service affects the welfare of people who are not the parties directly involved in the market exchange.