Florida SS.7.E.1.5
The Standard
Assess how profits, incentives, and competition motivate individuals, households, and businesses in a free market economy.
Florida Next Generation Sunshine State Standards for Social Studies
Teacher's field guide
What This Standard Means
What Students Need to Do
- Students explain how expected profit, rewards, costs, and rival sellers shape economic choices. They predict how individuals, households, and businesses will respond when market conditions change.
What Mastery Looks Like
- Students can examine a market scenario and identify the profit opportunity, incentive, and effect of competition. They support each prediction with evidence from the scenario.
Common Misconceptions
- Students often confuse profit with total sales and assume incentives are always money. They may think competition only lowers prices, overlooking changes in quality, service, and product choice.
How to Assess It
- Give students this prompt: “A second smoothie shop opens near a busy school. Explain the incentive for opening, one likely effect on both shops, and one likely household response.”
Lesson moves
Ways to Teach It
Run a classroom market with tokens, paper products, changing costs, and competing sellers, then compare each seller’s profit.
Ask students to write which would motivate a bakery more, higher prices, lower ingredient costs, or a nearby competitor, and explain why.
Play a scenario-card game where teams label each decision as driven by profit, another incentive, competition, or more than one factor.
Compare two local grocery advertisements and identify how prices, rewards programs, and product choices aim to influence household spending.
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Printable SS.7.E.1.5 Worksheet
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Related Standards
- SS.7.E.1
Understand the fundamental concepts relevant to the development of a market economy.
- SS.6.E.1
Understand the fundamental concepts relevant to the development of a market economy.
- SS.8.E.1.1
Examine motivating economic factors that influenced the development of the United States economy over time including scarcity, supply and demand, opportunity co...
- SS.8.E.1
Understand the fundamental concepts relevant to the development of a market economy.
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