7th Grade

State Standards

Civic Responsibility

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

E2By applying economic reasoning, individuals seek to understand the decisions of people, groups, and societies.

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

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

E3Individuals and institutions are interdependent within market systems.

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

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

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

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

E5The interconnected global economy impacts all individuals and groups in significant and varied ways.

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

7.E5.2Compare the various economic systems.

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