Economics SOL 1.8

SOL 1.8 - The student will explain that people make choices because they cannot have everything they want.

Essential Understandings:

  • People make choices because they cannot have everything they want. 

Essential Questions:
  • What happens when people cannot have everything they want?
Essential Knowledge:
  • People cannot have all the goods and  services they want. 
  • They must choose some things and give up others.
Essential Skills:
  • Make decisions based on information. 
  • Explain cause-and-effect relationships.