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List of Benchmarks for Economics 
 Standard 1.Understands that scarcity of productive resources requires choices that generate opportunity costs
  
Topics1. Scarcity and choice; 2. Opportunity costs and trade-offs
   Level II (Grade 3-5)
  Benchmark 8.Understands that choices usually involve trade-offs; people can give up buying or doing a little of one thing in order to buy or do a little of something else
   Vocabulary terms
A.  choice
B.  trade-off
  Knowledge/skill statements
  1. Understands that choices usually involve trade-offs   
  2. Knows that a trade-off is when people give up buying or doing a little of something in order to buy or do a little of something else   
  
McREL Activity(s)
   Going Camping


Citation Log: BD(NE,5;​CE,3;​EE,92;​JE,17;​PI,11;​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