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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 |