7th Grade

State Standards

Civic Responsibility

7: A financially literate individual understands how to manage income, spending, and investment.

E2: By applying economic reasoning, individuals seek to understand the decisions of people, groups, and societies.

7.E2.1: Explain how economic decisions affect the well‑being of individuals, businesses, and society.

7.E2.2: Evaluate current economic issues in terms of benefits and costs for distinct groups in society.

E3: Individuals and institutions are interdependent within market systems.

7.E3.1: Explain the roles of buyers, sellers, and profits in product, labor, and financial markets.

7.E3.2: Analyze the relationship between supply, demand, and competition with emphasis on how they influence prices, wages, and production.

7.E3.3: Analyze the influence of institutions such as corporations, non‑profits, and labor unions on the economy in a market system.

7.E3.4: Explain ways in which money facilitates exchange.

E5: The interconnected global economy impacts all individuals and groups in significant and varied ways.

7.E5.1: Explain the interdependence of trade and how trade barriers influence trade among nations.

7.E5.2: Compare the various economic systems.

7.E5.3: Explain the benefits and the costs of trade policies to individuals, businesses, and society.