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Economic Influence

5th Grade

Georgia Standards of Excellence (GSE): SS5E1.a

Describe opportunity costs and their relationship to decision-making across time (e.g., decisions by individuals in response to rationing during WWII).

Georgia Standards of Excellence (GSE): SS5E1.b

Explain how price incentives affect people’s behavior and choices (e.g., decisions to participate in cattle trails because of increased beef prices).

Georgia Standards of Excellence (GSE): SS5E1.c

Describe how specialization can improve standards of living and productivity (e.g., how Henry Ford’s use of the assembly line reduced the price of automobiles).

Georgia Standards of Excellence (GSE): SS5E1.d

Describe how trade and voluntary exchange promotes economic activity (e.g., how the Panama Canal increases trade among countries).

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