ECONOMICS STANDARD 5
Students should understand that voluntary exchange occurs only when all participating parties expect to gain. This is true for trade among individuals or organizations within a nation, and among individuals or organizations in different nations.

SOCIAL STUDIES STRAND 7: PRODUCTION, DISTRIBUTION, & CONSUMPTION

• Students should be able to explain and illustrate how values and beliefs influence different economic decisions.
• Students should be able to use economic concepts to help explain historical and current developments and issues in local, national, or global contexts.