[Samuel F.B. Morse, half-length portrait, posing with left hand on a telegraph apparatus, facing slightly left]

In the first grade, students summarize the need for money, how money is earned, and how money and credit are used in order to meet needs and wants including the costs and benefits of spending and saving. Students define and explain the roles of consumers and producers in the American economy. Students summarize how historic inventors and entrepreneurs contributed to the prosperity of the nation including Samuel F. B. Morse, John Deere, Alexander Graham Bell, Orville and Wilbur Wright, and Thomas Edison.