Common Planner
K–12 Standards

Grade 3 through 5 Economics Standards

Other Alaska Social Studies sets

Economic Systems, Models, and MarketsSS.3‐5.11

  • 1

    Identify examples of the variety of resources (human capital, physical capital, and natural resources) that are used to produce goods and services.SS.3‐5.11.1

    1. 3

      By the end of 3: Define and provide examples of human capital, physical capital, and natural resources in Alaska.SS.3.1.11.1

    2. 4

      By the end of 4: Compare examples of human capital, physical capital, and natural resources in various U.S. regions.SS.4.1.11.1

    3. 5

      By the end of 5: Compare and contrast past and current examples of human capital, physical capital, and natural resources and how they were/are used to produce goods and services.SS.5.1.11.1

  • 2

    Explain why individuals and businesses specialize and trade.SS.3‐5.11.2

    1. 3

      By the end of 3: Explain what it means for an individual and/or business to specialize and/or trade.SS.3.2.11.1

    2. 4

      By the end of 4: Provide examples, within and outside of Alaska, of individuals and businesses that specialize and trade.SS.4.2.11.1

    3. 5

      By the end of 5: Summarize multiple reasons why individuals and businesses throughout U.S. history have specialized or traded.SS.5.2.11.1

  • 3

    Explain the role of money in making exchange easier.SS.3‐5.11.3

    1. 3

      By the end of 3: [standard not addressed at this grade]

    2. 4

      By the end of 4: Explain the role of money in making exchange easier.SS.4.3.11.1

    3. 5

      By the end of 5: Examine the differences between the current exchange system and the exchange system in place within the American colonies.SS.5.3.11.1

  • 4

    Explain the relationship between investment in human capital, productivity, and future incomes.SS.3‐5.11.4

    1. 3

      By the end of 3: [standard not addressed at this grade]

    2. 4

      By the end of 4: Explain the relationship between investment in human capital, productivity, and future incomes using Indigenous and non‐ Indigenous examples from across the United States.SS.4.4.11.1

    3. 5

      By the end of 5: Explain the relationship between investment in human capital, productivity, and future incomes using examples from throughout U.S. history.SS.5.4.11.1

  • 5

    Explain how profits influence sellers in markets.SS.3‐5.11.5

    1. 3

      By the end of 3: [standard not addressed at this grade]

    2. 4

      By the end of 4: Determine how profits influence sellers in markets.SS.4.5.11.1

    3. 5

      By the end of 5: Explain how profits influenced sellers in early American markets.SS.5.5.11.1

  • 6

    Identify examples of external benefits and costs.SS.3‐5.11.6

    1. 3

      By the end of 3: [standard not addressed at this grade]

    2. 4

      By the end of 4: [standard not addressed at this grade]

    3. 5

      By the end of 5: Identify examples of external benefits and costs.SS.5.6.11.1

  • 7

    Describe the role of other financial institutions in an economy.SS.3‐5.11.7

    1. 3

      By the end of 3: [standard not addressed at this grade]

    2. 4

      By the end of 4: [standard not addressed at this grade]

    3. 5

      By the end of 5: Describe the role of other financial institutions in an economy.SS.5.7.11.1

Decision‐Making and Personal FinanceSS.3‐5.12

  • 1

    Compare the benefits and costs of individual choices.SS.3‐5.12.1

    1. 3

      By the end of 3: Examine various ways that people in Alaska have met their needs for food, clothing, and shelter, and how they have changed over time.SS.3.1.12.1

    2. 4

      By the end of 4: Explain how scarcity and abundance require a person to determine the benefits and costs of a particular choice.SS.4.1.12.1

    3. 5

      By the end of 5: Analyze the benefits and costs of personal choices that any person in U.S. history may have considered in order to meet their needs and wants.SS.5.1.12.1

  • 2

    Identify positive and negative incentives that influence the decisions people make.SS.3‐5.12.2

    1. 3

      By the end of 3: With support, generate a list of factors that influence the way people make a particular decision.SS.3.2.12.1

    2. 4

      By the end of 4: Define positive and negative incentives.SS.4.2.12.1

    3. 5

      By the end of 5: Identify positive and negative incentives that influence the decisions people make.SS.5.2.12.1

The National EconomySS.3‐5.13

  • 1

    Explain what interest rates are.SS.3‐5.13.1

    1. 3

      By the end of 3: With support, generate a list of scenarios that may include borrowing money.SS.3.1.13.1

    2. 4

      By the end of 4: Explain that interest is the price of using someone else’s money.SS.4.1.13.1

    3. 5

      By the end of 5: Explain what interest rates are and how they work.SS.5.1.13.1

  • 2

    Explain the meaning of inflation, deflation, and unemployment.SS.3‐5.13.2

    1. 3

      By the end of 3: Define unemployment and explain why the number of unemployed individuals in a given area may increase or decrease.SS.3.2.13.1

    2. 4

      By the end of 4: Determine the difference between inflation and deflation.SS.4.2.13.1

    3. 5

      By the end of 5: Investigate ways that inflation, deflation, and unemployment have impacted theSS.5.2.13.1

  • 3

    Explain the ways in which the government pays for the goods and services it provides.SS.3‐5.13.3

    1. 3

      By the end of 3: Explain the ways in which Alaska’s government pays for the goods and services it provides.SS.3.3.13.1

    2. 4

      By the end of 4: Describe how people and businesses support federal government services through taxation.SS.4.3.13.1

    3. 5

      By the end of 5: Compare the British taxation policies in Colonial America to the current taxation practices in the United States.SS.5.3.13.1

  • 2

    Describe ways that people can increase productivity by using improved capital goods and improving their human capital.SS.3‐5.13.4

    1. 3

      By the end of 3: Define and illustrate examples of capital goods and human capital.SS.3.4.13.1

    2. 4

      By the end of 4: Explain the importance of improving capital goods and human capital over time.SS.4.4.13.1

    3. 5

      By the end of 5: Describe ways that past and present peoples of the United States have utilized improved capital goods and human capital to increase productivity.SS.5.4.13.1

The Global EconomySS.3‐5.14

  • 1

    Explain how trade leads to increasing economic interdependence among nations.SS.3‐5.14.1

    1. 3

      By the end of 3: Explain how trade contributed to economic interdependence among Indigenous groups throughout Alaska’s history.SS.3.1.14.1

    2. 4

      By the end of 4: Explain how trade contributes to economic interdependence among regions of the United States.SS.4.1.14.1

    3. 5

      By the end of 5: Explain how trade leads to increasing economic interdependence among countries.SS.5.1.14.1

  • 2

    Explain the effects of increasing economic interdependence on different groups within participating nations.SS.3‐5.14.2

    1. 3

      By the end of 3: Explain how geography, natural resources, climate, and available labor contributed to the exploitation of resources in Alaska.SS.3.2.14.1

    2. 4

      By the end of 4: Explain how geography, natural resources, climate, and available labor contribute to the interconnected regional economies of the United States.SS.4.2.14.1

    3. 5

      By the end of 5: Explain the effects of increasing economic interdependence on different groups within participating nations.SS.5.2.14.1

Alaska Economies: State, Local, and TribalSS.3‐5.15

  • 1

    Explain different economic systems used by groups of Alaskans across the state and across time.SS.3‐5.15.1

    1. 3

      By the end of 3: Analyze how various Alaska Native groups use and have used several natural resources to meet their needs.SS.3.1.15.1

    2. 4

      By the end of 4: Explore the significance of various industries in Alaska.SS.4.1.15.1

    3. 5

      By the end of 5: Examine economic systems that have impacted Alaskans throughout the state’s history.SS.5.1.15.1

Frequently asked questions

What grade levels do these standards cover?
Grade 3, Grade 4, and Grade 5
Where can I read the official document?
Alaska Social Studies Standards

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