BPS District Social Studies Standards Book

SST Standards

Standard 3:

SST Standard 3 Economics IconEconomic Concepts

Students understand economic concepts and the characteristics of various economic systems.


SST-00.3 Standard 3: Economic Concepts


First Grade

SST-01.3 Standard 3: Economic Concepts


Second Grade

SST-02.3 Standard 3: Economic Concepts

    • SST-02.3.01 Differentiate between goods and services, consumers and producers
    • SST-02.3.02 Identify community businesses and workers, and the goods and services they provide


Third Grade

SST-03.3 Standard 3: Economic Concepts

    • SST-03.3.01 Identify ways families and communities cooperate and compromise
    • SST-03.3.02 Explain how supply and demand affect personal economic choices
    • SST-03.3.03 Explain the differences among natural and human resources, and how they are used locally


Fourth Grade

SST-04.3 Standard 3: Economic Concepts

    • SST-04.3.01 Describe the impact of education, training, and health care on personal income
    • SST-04.3.02 Identify ways that natural resources contribute to the economy
    • SST-04.3.03 Explain the impact of tourism on North Dakota's economy
    • SST-04.3.04 Identify principal exports of North Dakota


Fifth Grade

SST-05.3 Standard 3: Economic Concepts

    • SST-05.3.01 Describe how various non-economic factors can influence the economy
    • SST-05.3.02 Explain the relationships between scarcity and resources
    • SST-05.3.03 Describe the concept of competition and its relationship to price
    • SST-05.3.04 Describe the basic concepts of imports, exports, and international trade


6th Grade

SST-06.3 Standard 3: Economic Concepts

    • SST-06.3.01 Explain how non-economic factors influenced economic behaviors and de
    • SST-06.3.02 Trace the development of civilizations from hunting/gathering based societies
    • SST-06.3.03 Describe how advances in technology impacted productivity


7th Grade

SST-07.3 Standard 3: Economic Concepts

    • SST-07.3.01 Identify how people organize for the production, distribution, and consumption of goods and services
    • SST-07.3.02 Differentiate among currency values and their exchange rates
    • SST-07.3.03 Explain patterns and networks of economic and global interdependence
    • SST-07.3.04 Identify ways to measure economic progress


8th Grade

SST-08.3 Standard 3: Economic Concepts

    • SST-08.3.01 Explain the purpose and effects of trade barriers
    • SST-08.3.02 Describe how technology impacted the United States prior to the Civil
    • SST-08.3.03 Evaluate how economic opportunities impact North Dakota and other reg
    • SST-08.3.04 Describe factors governing economic decision making in North Dakota a


High School

SST-HS.3 Standard 3: Economic Concepts

    • SST-HS.3.01 Analyze basic micro and macro economic concepts
    • SST-HS.3.02 Explain the role of money and the role of financial institutions in a market economy
    • SST-HS.3.03 Describe the difference between the structure and operation of market economies and centrally planned or command economies
    • SST-HS.3.04 Analyze the role government plays in an economy
    • SST-HS.3.05 Interpret the concepts of exchange and trade and the impacts and implications of a global economy for individuals and nations.