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Economics Concepts for K-6

  1. UNO
  2. College of Business Administration
  3. Center for Economic Education
  4. Teacher Resources
  5. THEN
  6. Economics Concepts for K-6

  • Additional Resources

  • THEN Teaching History and Economics of Nebraska
  • Definitions for Concepts
  • Concepts and Lessons for Textbook
  • External Resources
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road

Table 2: Summary of Concepts by Grade Level

Full glossary of concepts with definitions

Concept K 1 2 3 4 5 6
Scarcity New Review Review Review Review Review Review
Choice New Review Review Review Review Review Review
Goods New Review Review Review Review Review Review
Services New Review Review Review Review Review Review
Opportunity Cost​ n/a New Review Review Review Review Review
Resources n/a New Review Review Review Review Review
Natural Resources n/a New Review Review Review Review Review
Human Resources
(Labor)		 n/a New Review Review Review Review Review
Capital Resources
(Capital Goods)		 n/a New Review Review Review Review Review
Barter n/a New Review Review Review Review Review
Interdependence n/a n/a New Review Review Review Review
Money n/a n/a New Review Review Review Review
Producers/Production n/a n/a New Review Review Review Review
Consumers n/a n/a New Review Review Review Review
Specialization n/a n/a New Review Review Review Review
Division of Labor n/a n/a n/a New Review Review Review
Productivity n/a n/a n/a New Review Review Review
Markets n/a n/a n/a New Review Review Review
Prices n/a n/a n/a New Review Review Review
Public Goods n/a n/a n/a New Review Review Review
Economic Systems n/a n/a n/a n/a New Review Review
Market Economy n/a n/a n/a n/a New Review Review
Circular Flow n/a n/a n/a n/a New Review Review
Trade/Exchange n/a n/a n/a n/a New Review Review
Factors of Production n/a n/a n/a n/a n/a New Review
Trade-offs n/a n/a n/a n/a n/a New Review
Demand n/a n/a n/a n/a n/a New Review
Supply n/a n/a n/a n/a n/a New Review
Equillibrium Price n/a n/a n/a n/a n/a New Review
Competition n/a n/a n/a n/a n/a n/a New
Cost of Production n/a n/a n/a n/a n/a n/a New
Profit n/a n/a n/a n/a n/a n/a New
Entrpreneurs n/a n/a n/a n/a n/a n/a New
Incentives n/a n/a n/a n/a n/a n/a New
Taxes n/a n/a n/a n/a n/a n/a New
Income Tax n/a n/a n/a n/a n/a n/a New
Property Tax n/a n/a n/a n/a n/a n/a New
Sales Tax n/a n/a n/a n/a n/a n/a New
Unemploment n/a n/a n/a n/a n/a n/a New
Shortages n/a n/a n/a n/a n/a n/a New
Surpluses n/a n/a n/a n/a n/a n/a New
Center for Economic Education

Contact Us

  • Jamie Wagner, Ph.D.
  • Director, UNO Center for Economic Education
  • Assistant Professor, Department of Economics
  • 332B Mammel Hall
  • jfwagner@unomaha.edu
  • 402.554.2357
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Additional Resources

  • THEN Teaching History and Economics of Nebraska
  • Definitions for Concepts
  • Concepts and Lessons for Textbook
  • External Resources
  • Historical Society Resources

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