SOL Prep

Economics

Virginia SOL 1.EC.1

Explain how individuals make economic choices to meet their basic needs.

Study 1.EC.1 with SOL PrepBack to Grade 1 History

What students need to be able to do

  • Identify the difference between goods and services.
  • Describe how people can be both consumers and producers.
  • Describe ways people work to earn and save money to purchase goods and services.
  • Describe goods produced and services provided in Virginia.
  • Describe why people must make choices, prioritizing needs over wants.