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List of Benchmarks for Economics 
 Standard 1.Understands that scarcity of productive resources requires choices that generate opportunity costs
  
Topics1. Opportunity costs and trade-offs ; 2. Production and consumption
   Level IV (Grade 9-12)
  Benchmark 4.Understands that investing in new physical or human capital involves a trade-off of lower current consumption in anticipation of greater future production and consumption
   Vocabulary terms
A.  investment in human capital
B.  investment in physical capital
C.  investment trade-off
D.  current consumption
E.  future consumption
F.  future production
  Knowledge/skill statements
  1. Understands that investing in new physical capital involves trade-offs   
  2. Understands that investing in new human capital involves trade-offs   
  3. Understands that investing in new physical capital involves a trade-off of lower current consumption in anticipation of greater future production and consumption   
  4. Understands that investing in new human capital involves a trade-off of lower current consumption in anticipation of greater future production and consumption  A   


 A  = Assessment items available

Citation Log: BD(NE,35;​CI,4;​EE,92;​JE,18;​PE,15;​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