West Virginia
6th-8th Grades
State Standards
Economics and Personal Finance
Economics
SS.6.8Compare and contrast the basic characteristics of communism, socialism and capitalism.
SS.6.9Identify examples of renewable and non-renewable resources and analyze the factors that affect these resources on the individual, local, and national economies (e.g., hurricanes, floods, etc.).
SS.6.10Define NAFTA and summarize its effects on the United States economy.
SS.6.11Compare and contrast government economic policy beginning with the Reagan era through present day.
SS.6.12Classify and evaluate the different types of world trade organizations (e.g., trade, military and health).
SS.6.13Assess the economic impact of technology on world regions throughout history.
SS.7.7Summarize and give examples of basic economic terms (e.g., barter, supply, demand, trade, interdependence, currency, and scarcity).
SS.7.8Differentiate between goods and services.
SS.7.9Compare the incentives of various countries to explore and settle new lands.
SS.7.10Trace how the emergence of traditional economies led to the development of mercantilism and the rise of the middle class.
SS.7.11Examine and draw conclusions about how the effects of natural and human events influence an economy (e.g., environmental disasters, diseases, and war).
SS.7.12Research and investigate how natural resources impact the economy.
SS.8.6Evaluate West Virginia's role in the global economy as it relates to natural resources and national/international business and trade.
SS.8.7Correlate West Virginia economic conditions with the effects on its citizens (e.g., employment, population, migration, and health).
SS.8.8Analyze the impact of absentee ownership, renewable and nonrenewable natural resources, labor unionization, and the development of infrastructure on the economic growth of West Virginia (e.g., railroad, major highways, internet and cellular service).
SS.8.9Research and cite industries and products that are vital to the economy of the four regions of West Virginia both past and present, and categorize the related occupations (e.g., tourism, coal, glass, timber, chemical, oil, natural gas, agriculture service industries, and gaming).
SS.8.10Identify major sources of revenue and their use by West Virginia state and local governments (e.g., property tax, income tax, licenses, excise tax, severance tax, levies/bonds, gaming, and lottery).
SS.8.11Compare and contrast the effects of technological/industrial advances as they relate to economy vs. environment and their effects on the demographic profile of West Virginia (e.g., entrepreneurial businesses, agriculture, tourism, education, interstate commuters, mining, and natural gas).
SS.8.12Examine financial aid planning opportunities and programs to help students and families make sound college savings decisions.
Differentiate between the categories of financial aid (merit-based assistance, need-based assistance, grants, scholarships, work study, loans, self-help aid).
Explore West Virginia's SMART529™ program and other college saving plans.
Create a Financial Aid and College Savings Plan utilizing free resources such as CFWV's Financial Aid Calculators, Scholarship Finder, and Financial Aid Wizard.
Construct a personal budget that included college savings.