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List of Benchmarks for Economics 
 Standard 1.Understands that scarcity of productive resources requires choices that generate opportunity costs
  
TopicScarcity and choice
   Level II (Grade 3-5)
  Benchmark 3.Understands that federal, state, and local governments have problems of scarcity also; because they have limited budgets, they must compare their revenues to the costs of public projects their citizens want
   Vocabulary terms
A.  federal government
B.  state government
C.  local government
D.  scarcity
E.  limited budget
F.  revenue
G.  cost of public projects
H.  citizen’s want
  Knowledge/skill statements
  1. Understands that federal governments have problems of scarcity   
  2. Understands that state governments have problems of scarcity   
  3. Understands that local governments have problems of scarcity   
  4. Knows that federal governments have limited budgets   
  5. Knows that state governments have limited budgets   
  6. Knows that local governments have limited budgets   
  7. Understands that because of limited budgets, governments must compare their revenues to the costs of public projects their citizen’s want   


Citation Log: BD(NE,3;​CI,3,4;​EE,92;​JE,16;​SI,41)
Citation reference
BD = benchmark, declarative
BP = benchmark, procedural
BC = benchmark, contextual

1st letter/number of each code in parentheses:
B   International Baccalaureate: Economics
C   Colorado Economics Standards
DD   Department of Defense: Prekindergarten Social Studies Standards
E   NCEE: Framework for Economics
HS   Head Start: Child Outcomes Framework
J   JCEE: Economics, What and When
MH   McGraw-Hill: Pre-Kindergarten Standards: Guidelines for Teaching and Learning
N   NCEE: Voluntary National Content Standards in Economics
NZ   New Zealand Ministry of Education: Early Childhood Curriculum
P   NAEP: 2006 Assessment Framework in Economics for Grade 12
S   NCSS: Curriculum Standards for Social Studies
T   TEA: Texas Prekindergarten Curriculum Guidelines

2nd letter code :
E = Explicitly stated in document
I = Implicit in document

Number:
Page number of the cited document