Grade 2 History · Economics
Virginia SOL 2.EC.1
Virginia SOL 2.EC.1 is part of the Economics strand in Grade 2 History (History). Under this Standards of Learning objective, students understand basic economic principles. Below is what 2.EC.1 covers in plain language, the specific skills it is assessed on, the key concepts to review, and how to practice 2.EC.1 for the Virginia SOL test.
What SOL 2.EC.1 means
Understand basic economic principles.
Skills you’ll practice for 2.EC.1
- Identify natural resources including water, soil, wood, and coal.
- Identify human resources (people at work).
- Identify capital resources including machines, tools, computers, and buildings.
- Distinguish between needs and wants.
- Distinguish between the use of barter and the use of money in the exchange for goods and services.
- Describe how money makes trading easier than barter.
- Explain that scarcity (having limited resources) requires people to make choices about producing and consuming goods and services.
Key concepts covered by 2.EC.1
- natural resources
- water
- soil
- wood
- coal
- human resources
- people at work
- capital resources
- machines
- tools
- computers
- buildings
- needs
- wants
- barter
- money
- exchange
- goods and services
- trading
- scarcity
- resource limitations
- economic choices
How to study and practice SOL 2.EC.1
Start with a quick diagnostic to see whether 2.EC.1 is already solid, then work each skill above with guided notes, flashcards, and SOL-style practice questions. For official released items, see our Virginia SOL practice tests guide and how to study for the SOL test.
Frequently asked questions about SOL 2.EC.1
What is Virginia SOL 2.EC.1?
SOL 2.EC.1 is a Grade 2 History Standard of Learning in the Economics strand. It expects students to understand basic economic principles.
What skills does SOL 2.EC.1 cover?
SOL 2.EC.1 is assessed on 7 skills: identify natural resources including water, soil, wood, and coal; identify human resources (people at work); identify capital resources including machines, tools, computers, and buildings; distinguish between needs and wants; distinguish between the use of barter and the use of money in the exchange for goods and services; describe how money makes trading easier than barter; explain that scarcity (having limited resources) requires people to make choices about producing and consuming goods and services.
What strand of Grade 2 History is SOL 2.EC.1 in?
SOL 2.EC.1 belongs to the Economics reporting strand of the Grade 2 History Virginia Standards of Learning.
How do I study and practice for SOL 2.EC.1?
Start with a diagnostic to see whether 2.EC.1 is already solid, then work the 7 skills above with guided notes, flashcards, and SOL-style practice questions. For official released items, see the Virginia SOL practice tests guide.