Guam
7th Grade
State Standards
Standard 5: Economics - Students learn about the concepts of production, distribution, and consumption of goods and resources.
7.5.1Identify types of natural, human, and capital resources and explain their significance, including the following: Their influence on patterns of economic activity and land use; Perspectives and consequences regarding the use of resources
7.5.2Distinguish between developed and developing countries and relate their level of economic development to their standard of living and quality of life.
7.5.3Explain the impact of scarcity on international trade and economic interdependence among societies.
7.5.4Describe ways in which factors of production influence the economies of selected contemporary societies.