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Topic: Currency and exchange 

Economics

 Standard 6.  Understands the roles government plays in the United States economy
  Level III (Grade 6-8)
   Benchmark 1.Knows that in a market economy the government helps markets to operate efficiently by protecting property rights (i.e. the right to exclude others from using a good or service and the right to transfer ownership) and by providing a system of weights and measures and a standard and stable currency
    Knowledge/skill statements
     1.Knows that in a market economy the government helps markets to operate efficiently
     2.Knows that the government helps markets by protecting property rights
     3.Knows that property rights are the right to exclude others from using a good or service and the right to transfer ownership
     4.Knows that the government helps markets by providing a system of weights and measures
     5.Knows that the government helps markets by providing a standard and stable currency
 Standard 10.  Understands basic concepts about international economics
  Level II (Grade 3-5)
   Benchmark 1.Knows that different currencies are used in different countries
    Knowledge/skill statements
     1.Knows that each country usually has its own currency
  Level III (Grade 6-8)
   Benchmark 4.Knows that an exchange rate is the price of one nation’s currency in terms of another nation’s currency, and that exchange rates are determined by the forces of supply and demand
    Knowledge/skill statements
     1.Knows that the exchange rate is the price of one nation’s currency in terms of another nation’s currency
     2.Knows how exchange rates are determined
     3.Understands how supply and demand affect exchange rates
     4.Knows that nations exchange currency
   Benchmark 5.Understands that extensive international trade requires an organized system for exchanging money between nations (i.e., a foreign exchange market)
    Knowledge/skill statements
     1.Knows the meaning of "foreign exchange market"
     2.Understands that extensive international trade requires a foreign exchange market
  Level IV (Grade 9-12)
   Benchmark 4.Understands that a change in exchange rates changes the relative price of goods and services traded by the two countries and can have a significant effect on the flow of trade between nations and on a nation’s domestic economy
    Knowledge/skill statements
     1.Understands the effect of a change in the exchange rate on the relative price of goods and services between two countries
     2.Understands the effect of a change in the exchange rate on the flow of trade between nations
     3.Understands the effect of a change in exchange rates on a nation’s domestic economy