Guam
7th Grade
State Standards
Standard 5: Economics - Students learn about the concepts of production, distribution, and consumption of goods and resources.
7.5.1: Identify 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
7.5.2: Distinguish between developed and developing countries and relate their level of economic development to their standard of living and quality of life.
7.5.3: Explain the impact of scarcity on international trade and economic interdependence among societies.
7.5.4: Describe ways in which factors of production influence the economies of selected contemporary societies.