(1) The benchmark for social studies content standard 5 for a student at the end of grade 4 is the ability to:

(a) give examples of needs and wants, scarcity and choice (e.g., budgeting of allowance, trading cards) ;

(b) identify basic economic concepts (e.g., supply and demand, price) that explain events and issues in the community;

(c) distinguish between private goods and services (e.g., family car, local restaurant) and public goods and services (e.g., interstate highway system, United States postal service) ;

(d) describe how personal economic decisions, (e.g., deciding what to buy, what to recycle, how much to contribute to people in need) affect the lives of people in Montana, the United States, and the world;

(e) explain the roles of money, banking, and savings in everyday life; and

(f) identify and describe examples in which science and technology have affected economic conditions (e.g., assembly line, robotics, internet, media advertising) .