The Humanities – Economics Assessment Map – Sample at 3.75
For Level 3, please see The Humanities Assessment map.
What is an economy?
Context
Students were introduced to the concept of scarcity and how the supply of, and demand for goods can affect the market place. Through group activities, students identified and distinguished between the different types of resources – natural, human and capital – used in the production process; students discussed how decisions about using limited resources are made.
Using subject-specific language students were required to answer a set of questions focusing on:
- providing a definition of scarcity within the marketplace and how it affects consumers
- differentiating between the different types of resources used in the production process
- explaining how demand and supply affects the marketplace.
The element of the Economic knowledge and understanding Level 4 standard addressed by this task is:
Students describe the nature of the economic problem (scarcity) and explain how selected goods and services are produced …
Sample
The following work sample, and the related Economics 3.75 progression point examples, illustrate the kinds of responses that students produce as they progress towards the Level 4 standard.
What is an Economy?
View text version
Annotation
Economic knowledge and understanding – 3.75
- Provides a definition of scarcity and that the price generally goes up but does not explain how it affects the consumers.
- Explains the effect of high demand for a product; makes the link between demand and supply.
- Describes the types of resources used in the production process and applies this to a particular example chosen for analysis (in this case, a wooden bat).
Back to Top
