About This Lesson
The Core Knowledge History and Geography (CKHG) Grade 1 unit Lessons in Economics provides a broad introduction to economics, including:
- what is an economy
- the difference between a goods and a service
- the difference between needs and wants
- the three types of resources: natural, human, capital
- how people make economic choices
- what scarcity means
- what a market place is
- how government can help economy
- why countries trade with each other
