Features : Standards Correlation : Indiana
 

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These standards were last updated in 2008. To visit the Indiana web site where these standards are located, click here.

Content Area: Economics
Grade: KINDERGARTEN

Standard: K.4

  • Students explain that people do different jobs and work to meet basic economic wants.

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Standard: K.4.1

  • Explain that people work to earn money to buy the things they want.

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Standard: K.4.2

  • Identify and describe different kinds of jobs that people do and the tools or equipment used in these jobs.

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Standard: K.4.3

  • Explain why people in a community have different jobs.

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Standard: K.4.4

  • Give examples of work activities that people do at home.

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Content Area: Economics
Grade: 1st

Standard: 1.4

  • Students will explain how people in the school and community use goods and services and make choices as both producers and consumers.

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Standard: 1.4.1

  • Identify goods that people use.

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Standard: 1.4.2

  • Identify services that people do for each other.

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Standard: 1.4.3

  • Compare and contrast different jobs people do to earn income.

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Standard: 1.4.3

  • Describe how people in the school and community are both producers and consumers.

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Standard: 1.4.5

  • Explain that people have to make choices about goods and services because of scarcity.

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Standard: 1.4.6

  • Explain that people exchange goods and services to get the things they want.

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Content Area: Economics
Grade: 2nd

Standard: 2.4

  • Students will describe how people in a community use productive resources, create a variety of businesses and industries, specialize in different types of jobs, and depend on each other to supply goods and services.

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Standard: 2.4.1

  • Define the three types of productive resources (human resources, natural resources, capital resources) and identify productive resources used to produce goods and services in the community.

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Standard: 2.4.2

  • * Identify community workers who provide goods and services for the rest of the community, and explain how their jobs benefit people in the community.

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Standard: 2.4.3

  • Explain that a price is what people pay when they buy a good or service and what people receive when they sell a good or service.

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Standard: 2.4.4

  • Research goods and services produced in the local community and describe how people can be both producers and consumers.

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Standard: 2.4.5

  • Explain that because of scarcity, people must make choices and incur opportunity costs.

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Standard: 2.4.6

  • Define specialization and identify specialized jobs in the school and community.

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Standard: 2.4.7

  • Explain why people trade for goods and services and explain how money makes trade easier.

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Standard: 2.4.8

  • Explain that income that people do not spend on goods and services is called savings.

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Content Area: Economics
Grade: 3rd

Standard: 3.4

  • Students will explain how people in the local community make choices about using goods, services and productive resources; how they engage in trade to satisfy their economic wants; how they use a variety of sources to gather and apply information about economic changes in the community; and how they compare costs and benefits in economic decision making.

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Standard: 3.4.1

  • Give examples from the local community that illustrate the scarcity of productive resources. Explain how this scarcity requires people to make choices and incur opportunity costs

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Standard: 3.4.2

  • Give examples of goods and services provided by local business and industry.

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Standard: 3.4.3

  • Give examples of trade in the local community and explain how trade benefits both parties.

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Standard: 3.4.4

  • Define interdependence and give examples of how people in the local community depend on each other for goods and services.

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Standard: 3.4.5

  • List the characteristics of money and explain how money makes trade easier.

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Standard: 3.4.6

  • Identify different ways people save their income and explain advantages and disadvantages of each.

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Standard: 3.4.7

  • Explain that buyers and sellers interact to determine the prices of goods and services in markets.

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Standard: 3.4.8

  • Illustrate how people compare benefits and costs when making choices and decisions as consumers and producers.

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Standard: 3.4.9

  • Gather data from a variety of information resources about a change that will have an economic impact on the community.

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Content Area: Economics
Grade: 4th

Standard: 4.4

  • Students will study and compare the characteristics of Indiana's changing economy in the past and present.

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Standard: 4.4.1

  • Give examples of the kinds of goods and services produced in Indiana in different historical periods.

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Standard: 4.4.2

  • Define productivity and provide examples of how productivity has changed in Indiana during the past 100 years.

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Standard: 4.4.3

  • Explain how both parties can benefit from trade and give examples of how people in Indiana engaged in trade in different time periods.

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Standard: 4.4.4

  • Explain that prices change as a result of changes in supply and demand for specific products.

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Standard: 4.4.5

  • Describe Indiana's emerging global connections.

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Standard: 4.4.6

  • List the functions of money and compare and contrast things that have been used as money in the past in Indiana, the United States and the world.

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Standard: 4.4.7

  • Identify entrepreneurs who have influenced Indiana and the local community.

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Standard: 4.4.8

  • Define profit and describe how profit is an incentive for entrepreneurs.

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Standard: 4.4.9

  • Identify important goods and services provided by state and local governments by giving examples of how state and local tax revenues are used.

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Standard: 4.4.10

  • Explain how people save, and develop a savings plan in order to make a future purchase.

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Content Area: Economics
Grade: 5th

Standard: 5.4

  • Students will describe the productive resources and market relationships that influence the way people produce goods and services and earn a living in the United States in different historical periods.

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Standard: 5.4.1

  • Describe the economic activities within and among Native American Indian cultures prior to contact with Europeans. Examine the economic incentives that helped motivate European exploration and colonization.

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Standard: 5.4.2

  • Summarize a market economy and give examples of how the colonial and early American economy exhibited these characteristics.

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Standard: 5.4.3

  • Define types of trade barriers.

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Standard: 5.4.4

  • Trace the development of technology and the impact of major inventions on business productivity during the early development of the United States.

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Standard: 5.4.5

  • Explain how education and training, specialization and investment in capital resources increase productivity.

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Standard: 5.4.6

  • Use economic reasoning to explain why certain careers are more common in one region than in another and how specialization results in more interdependence.

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Standard: 5.4.7

  • Predict the effect of changes in supply and demand on price.

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Standard: 5.4.8

  • Analyze how the causes and effects of changes in price of certain goods and services had significant influence on events in United States history.

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Standard: 5.4.9

  • Identify the elements of a personal budget and explain why personal spending and saving decisions are important.

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Content Area: Economics
Grade: 6th

Standard: 6.4

  • Students will examine the influence of physical and cultural factors upon the economic systems of countries in Europe and the Americas.

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Standard: 6.4.1

  • Give examples of how trade related to key developments in the history of Europe and the Americas.

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Standard: 6.4.2

  • Analyze how countries of Europe and the Americas have been influenced by trade in different historical periods.

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Standard: 6.4.3

  • Explain why international trade requires a system for exchanging currency between various countries.

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Standard: 6.4.4

  • Describe how different economic systems (traditional, command, market and mixed) in Europe and the Americas answer the basic economic questions on what to produce, how to produce and for whom to produce.

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Standard: 6.4.5

  • Explain how financial institutions (banks, credit unions and stocks-and-bonds markets) channel funds from savers to borrowers and investors.

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Standard: 6.4.6

  • Compare the standard of living of various countries of Europe and the Americas today using Gross Domestic Product (GDP) per capita as an indicator.

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Standard: 6.4.7

  • Analyze current economic issues in the countries of Europe or the Americas using a variety of information resources.

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Standard: 6.4.8

  • Identify economic connections between the local community and the countries of Europe or the Americas and identify job skills needed to be successful in the workplace.

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Standard: 6.4.9

  • Identify situations in which the actions of consumers and producers in Europe or the Americas create helpful spillovers or harmful spillovers to people inside a country who are not directly involved in the consumption or production of a product.

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Standard: 6.4.10

  • Explain how saving and investing help increase productivity and economic growth and compare and contrast individual saving and investing options.

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Content Area: Economics
Grade: 7th

Standard: 7.4

  • Students will examine the influence of physical and cultural factors upon the economic systems found in countries of Africa, Asia and the Southwest Pacific.

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Standard: 7.4.1

  • Give examples of trade between countries in Africa, Asia and the Southwest Pacific. Explain how voluntary trade benefits countries and results in higher standards of living.

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Standard: 7.4.2

  • Identify economic connections between the local community and the countries of Africa, Asia or the Southwest Pacific.

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Standard: 7.4.3

  • Illustrate how international trade requires a system for exchanging currency between and among nations.

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Standard: 7.4.4

  • Trace the development and change over time of the economic systems (traditional, command, market and mixed) of various cultures, societies or nations in Africa, Asia and the Southwest Pacific.

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Standard: 7.4.5

  • Explain how banks and other financial institutions use savings deposits to help borrowers and investors.

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Standard: 7.4.6

  • Compare and contrast the standard of living of various countries in Africa, Asia and the Southwest Pacific using Gross Domestic Product (GDP) per capita as an indicator.

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Standard: 7.4.7

  • Describe ways that people can increase individual human capital.

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Standard: 7.4.8

  • Identify ways that societies deal with helpful spillovers (e.g. education) or harmful spillovers (e.g. pollution).

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Standard: 7.4.9

  • Explain how saving and investing help increase productivity and economic growth and examine how individual savings can grow through regular saving and the power of compound interest.

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Content Area: Economics
Grade: 8th

Standard: 8.4

  • Students will identify, describe and evaluate the influence of economic factors on national development from the founding of the nation to the end of Reconstruction.

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Standard: 8.4.1

  • Identify economic factors contributing to European exploration and colonization in North America, the American Revolution and the drafting of the Constitution of the United States.

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Standard: 8.4.2

  • Illustrate elements of the three types of economic systems, using cases from United States history.

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Standard: 8.4.3

  • Evaluate how the characteristics of a market economy have affected the economic and labor development of the United States.

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Standard: 8.4.4

  • Explain the basic economic functions of the government in the economy of the United States.

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Standard: 8.4.5

  • Analyze contributions of entrepreneurs and inventors in the development of the United States economy.

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Standard: 8.4.6

  • Relate technological change and inventions to changes in labor productivity in the United States in the eighteenth and nineteenth centuries.

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Standard: 8.4.7

  • Trace the development of different kinds of money used in the United States and explain how money helps make saving easier.

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Standard: 8.4.8

  • Examine the development of the banking system in the United States.

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Standard: 8.4.9

  • Explain and evaluate examples of domestic and international interdependence throughout United States history.

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Standard: 8.4.10

  • Examine the importance of borrowing and lending (the use of credit) in the United States economy and list the advantages and disadvantages of using credit.

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Standard: 8.4.11

  • Use a variety of information resources to compare and contrast job skills needed in different time periods in United States history.

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Content Area: Economics
Grade: ECONOMICS

Standard: E.1.1

  • Scarcity and Economic Reasoning
    • Students will understand that productive resources are limited; therefore, people, institutions and governments cannot have all the goods and services they want. As a result, people, institutions and governments must choose some things and give up others.
      • Define each of the productive resources (natural, human, capital) and explain why they are necessary for the production of goods and services.

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Standard: E.1.2

  • Scarcity and Economic Reasoning
    • Students will understand that productive resources are limited; therefore, people, institutions and governments cannot have all the goods and services they want. As a result, people, institutions and governments must choose some things and give up others.
      • Explain how consumers and producers confront the condition of scarcity by making choices which involve opportunity costs and tradeoffs.

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Standard: E.1.3

  • Scarcity and Economic Reasoning
    • Students will understand that productive resources are limited; therefore, people, institutions and governments cannot have all the goods and services they want. As a result, people, institutions and governments must choose some things and give up others.
      • Explain the important role of the entrepreneur in taking the risk to combine productive resources to produce goods and services.

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Standard: E.1.4

  • Scarcity and Economic Reasoning
    • Students will understand that productive resources are limited; therefore, people, institutions and governments cannot have all the goods and services they want. As a result, people, institutions and governments must choose some things and give up others.
      • Describe how people respond predictably to positive and negative incentives.

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Standard: E.1.5

  • Scarcity and Economic Reasoning
    • Students will understand that productive resources are limited; therefore, people, institutions and governments cannot have all the goods and services they want. As a result, people, institutions and governments must choose some things and give up others.
      • Explain that voluntary exchange occurs when all participating parties expect to gain.

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Standard: E.1.6

  • Scarcity and Economic Reasoning
    • Students will understand that productive resources are limited; therefore, people, institutions and governments cannot have all the goods and services they want. As a result, people, institutions and governments must choose some things and give up others.
      • Compare and contrast how the various economic systems (traditional, market, command, mixed) answer the questions: What to produce? How to produce it? For whom to produce?.

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Standard: E.1.7

  • Scarcity and Economic Reasoning
    • Students will understand that productive resources are limited; therefore, people, institutions and governments cannot have all the goods and services they want. As a result, people, institutions and governments must choose some things and give up others.
      • Describe how clearly defined and enforced property rights are essential to a market economy.

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Standard: E.1.8

  • Scarcity and Economic Reasoning
    • Students will understand that productive resources are limited; therefore, people, institutions and governments cannot have all the goods and services they want. As a result, people, institutions and governments must choose some things and give up others.
      • Use a production possibilities curve to explain the concepts of choice, scarcity, opportunity cost, tradeoffs, unemployment, productivity and growth.

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Standard: E.1.9

  • Scarcity and Economic Reasoning
    • Students will understand that productive resources are limited; therefore, people, institutions and governments cannot have all the goods and services they want. As a result, people, institutions and governments must choose some things and give up others.
      • Diagram and explain a Circular Flow Model of a market economy, showing households and businesses as decision makers, resource and money flows, and the three basic markets - product, productive resources and financial markets.

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Standard: E.2.1

  • Supply and Demand
    • Students will understand the role that supply and demand, prices, and profits play in determining production and distribution in a market economy.
      • Define supply and demand.

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Standard: E.2.2

  • Supply and Demand
    • Students will understand the role that supply and demand, prices, and profits play in determining production and distribution in a market economy.
      • Identify factors that cause changes in market supply and demand.

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Standard: E.2.3

  • Supply and Demand
    • Students will understand the role that supply and demand, prices, and profits play in determining production and distribution in a market economy.
      • Describe the role of buyers and sellers in determining the equilibrium price.

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Standard: E.2.4

  • Supply and Demand
    • Students will understand the role that supply and demand, prices, and profits play in determining production and distribution in a market economy.
      • Describe how prices send signals to buyers and sellers.

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Standard: E.2.5

  • Supply and Demand
    • Students will understand the role that supply and demand, prices, and profits play in determining production and distribution in a market economy.
      • Recognize that consumers ultimately determine what is produced in a market economy (consumer sovereignty).

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Standard: E.2.6

  • Supply and Demand
    • Students will understand the role that supply and demand, prices, and profits play in determining production and distribution in a market economy.
      • Demonstrate how supply and demand determine equilibrium price and quantity in the product, resource and financial markets.

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Standard: E.2.7

  • Supply and Demand
    • Students will understand the role that supply and demand, prices, and profits play in determining production and distribution in a market economy.
      • Demonstrate how changes in supply and demand influence equilibrium price and quantity in the product, resource, and financial markets.

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Standard: E.2.8

  • Supply and Demand
    • Students will understand the role that supply and demand, prices, and profits play in determining production and distribution in a market economy.
      • Describe how the earnings of workers are determined by the market value of the product produced and workers' productivity.

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Standard: E.2.9

  • Supply and Demand
    • Students will understand the role that supply and demand, prices, and profits play in determining production and distribution in a market economy.
      • Demonstrate how government wage and price controls, such as rent controls and minimum wage laws, create shortages and surpluses.

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Standard: E.2.10

  • Supply and Demand
    • Students will understand the role that supply and demand, prices, and profits play in determining production and distribution in a market economy.
      • Use concepts of price elasticity of demand and supply to explain and predict changes in quantity as price changes.

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Standard: E.2.11

  • Supply and Demand
    • Students will understand the role that supply and demand, prices, and profits play in determining production and distribution in a market economy.
      • Illustrate how investment in factories; machinery; new technology; and the health, education and training of people increases productivity and raises future standards of living.

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Standard: E.3.1

  • Market Structures
    • Students will understand the organization and role of business firms and analyze the various types of market structures in the United States economy.
      • Compare and contrast the following forms of business organization: sole proprietorship, partnership and corporation.

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Standard: E.3.2

  • Market Structures
    • Students will understand the organization and role of business firms and analyze the various types of market structures in the United States economy.
      • Identify the three basic ways that firms finance operations (retained earnings, stock issues and borrowing) and explain the advantages and disadvantages of each.

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Standard: E.3.3

  • Market Structures
    • Students will understand the organization and role of business firms and analyze the various types of market structures in the United States economy.
      • Recognize that economic institutions, such as labor unions, nonprofit organizations and cooperatives, evolve in market economies to help members and clients accomplish their goals.

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Standard: E.3.4

  • Market Structures
    • Students will understand the organization and role of business firms and analyze the various types of market structures in the United States economy.
      • Identify the basic characteristics of the four market structures: monopoly, oligopoly, monopolistic competition and pure competition.

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Standard: E.3.5

  • Market Structures
    • Students will understand the organization and role of business firms and analyze the various types of market structures in the United States economy.
      • Explain how competition among many sellers lowers costs and prices.

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Standard: E.3.6

  • Market Structures
    • Students will understand the organization and role of business firms and analyze the various types of market structures in the United States economy.
      • Demonstrate how firms determine price and output through marginal analysis.

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Standard: E.3.7

  • Market Structures
    • Students will understand the organization and role of business firms and analyze the various types of market structures in the United States economy.
      • Explain ways that firms engage in price and non-price competition.

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Standard: E.3.8

  • Market Structures
    • Students will understand the organization and role of business firms and analyze the various types of market structures in the United States economy.
      • Identify laws and regulations adopted in the United States to promote competition among firms.

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Standard: E.3.9

  • Market Structures
    • Students will understand the organization and role of business firms and analyze the various types of market structures in the United States economy.
      • Explain the function of profit in a market economy as an incentive for entrepreneurs to accept the risks of business failure.

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Standard: E.3.10

  • Market Structures
    • Students will understand the organization and role of business firms and analyze the various types of market structures in the United States economy.
      • Describe the benefits of natural monopolies (economies of scale) and the purposes of government regulation of these monopolies, such as utilities.

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Standard: E.3.11

  • Market Structures
    • Students will understand the organization and role of business firms and analyze the various types of market structures in the United States economy.
      • Explain how cartels affect product price and output.

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Standard: E.4.1

  • The Role of Government
    • Students will understand that typical microeconomic roles of government in a market or mixed economy are the provision of public goods and services, redistribution of income, protection of property rights, and resolution of market failures.
      • Explain the basic functions of government in a market economy.

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Standard: E.4.2

  • The Role of Government
    • Students will understand that typical microeconomic roles of government in a market or mixed economy are the provision of public goods and services, redistribution of income, protection of property rights, and resolution of market failures.
      • Explain how markets produce too few public goods and how the government determines the amount to produce through looking at benefits and costs.

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Standard: E.4.3

  • The Role of Government
    • Students will understand that typical microeconomic roles of government in a market or mixed economy are the provision of public goods and services, redistribution of income, protection of property rights, and resolution of market failures.
      • Describe how the government taxing harmful spillovers and subsidizing helpful spillovers helps to resolve the inefficiency they cause.

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Standard: E.4.4

  • The Role of Government
    • Students will understand that typical microeconomic roles of government in a market or mixed economy are the provision of public goods and services, redistribution of income, protection of property rights, and resolution of market failures.
      • Describe major revenue and expenditure categories and their respective proportions of local, state and federal budgets.

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Standard: E.4.5

  • The Role of Government
    • Students will understand that typical microeconomic roles of government in a market or mixed economy are the provision of public goods and services, redistribution of income, protection of property rights, and resolution of market failures.
      • Explore the ways that tax revenue is used in the community.

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Standard: E.4.6

  • The Role of Government
    • Students will understand that typical microeconomic roles of government in a market or mixed economy are the provision of public goods and services, redistribution of income, protection of property rights, and resolution of market failures.
      • Identify taxes paid by students.

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Standard: E.4.7

  • The Role of Government
    • Students will understand that typical microeconomic roles of government in a market or mixed economy are the provision of public goods and services, redistribution of income, protection of property rights, and resolution of market failures.
      • Define progressive, proportional and regressive taxation.

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Standard: E.4.8

  • The Role of Government
    • Students will understand that typical microeconomic roles of government in a market or mixed economy are the provision of public goods and services, redistribution of income, protection of property rights, and resolution of market failures.
      • Determine whether different types of taxes (including income, sales and social security) are progressive, proportional or regressive.

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Standard: E.4.9

  • The Role of Government
    • Students will understand that typical microeconomic roles of government in a market or mixed economy are the provision of public goods and services, redistribution of income, protection of property rights, and resolution of market failures.
      • Describe how costs of government policies may exceed benefits, because social or political goals other than economic efficiency are being pursued.

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Standard: E.4.10

  • The Role of Government
    • Students will understand that typical microeconomic roles of government in a market or mixed economy are the provision of public goods and services, redistribution of income, protection of property rights, and resolution of market failures.
      • Use an economic decision-making model to analyze a public policy issue.

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Standard: E.5.1

  • National Economic Performance
    • Students will understand the means by which economic performance is measured.
      • Define aggregate supply and demand, Gross Domestic Product (GDP), economic growth, unemployment, and inflation.

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Standard: E.5.2

  • National Economic Performance
    • Students will understand the means by which economic performance is measured.
      • Explain how GDP, economic growth, unemployment and inflation are measured.

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Standard: E.5.3

  • National Economic Performance
    • Students will understand the means by which economic performance is measured.
      • Explain the limitations of using GDP to measure economic welfare.

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Standard: E.5.4

  • National Economic Performance
    • Students will understand the means by which economic performance is measured.
      • Explain the four phases of the business cycle (contraction, trough, expansion and peak).

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Standard: E.5.5

  • National Economic Performance
    • Students will understand the means by which economic performance is measured.
      • Analyze the impact of events in United States history, such as wars and technological developments, on business cycles.

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Standard: E.5.6

  • National Economic Performance
    • Students will understand the means by which economic performance is measured.
      • Identify the different causes of inflation and explain who gains and loses because of inflation.

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Standard: E.5.7

  • National Economic Performance
    • Students will understand the means by which economic performance is measured.
      • Analyze the impact of inflation on students' economic decisions.

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Standard: E.5.8

  • National Economic Performance
    • Students will understand the means by which economic performance is measured.
      • Illustrate and explain cost-push and demand-pull inflation.

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Standard: E.5.9

  • National Economic Performance
    • Students will understand the means by which economic performance is measured.
      • Recognize that a country's overall level of income, employment and prices are determined by the individual spending and production decisions of households, firms and government.

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Standard: E.5.10

  • National Economic Performance
    • Students will understand the means by which economic performance is measured.
      • Illustrate and explain how the relationship between aggregate supply and aggregate demand is an important determinant of the levels of unemployment and inflation in an economy.

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Standard: E.5.11

  • National Economic Performance
    • Students will understand the means by which economic performance is measured.
      • Compare and contrast solutions for reducing unemployment.

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Standard: E.6.1

  • Money and the Role of Financial Institutions
    • Students will understand the role of money and financial institutions in a market economy.
      • Explain the basic functions of money.

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Standard: E.6.2

  • Money and the Role of Financial Institutions
    • Students will understand the role of money and financial institutions in a market economy.
      • Identify the composition of the money supply of the United States.

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Standard: E.6.3

  • Money and the Role of Financial Institutions
    • Students will understand the role of money and financial institutions in a market economy.
      • Explain the role of banks and other financial institutions in the economy of the United States.

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Standard: E.6.4

  • Money and the Role of Financial Institutions
    • Students will understand the role of money and financial institutions in a market economy.
      • Explain how interest rates act as an incentive for savers and borrowers.

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Standard: E.6.5

  • Money and the Role of Financial Institutions
    • Students will understand the role of money and financial institutions in a market economy.
      • Describe the organization and functions of the Federal Reserve System.

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Standard: E.6.6

  • Money and the Role of Financial Institutions
    • Students will understand the role of money and financial institutions in a market economy.
      • Compare and contrast credit, savings and investment services available to the consumer from financial institutions.

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Standard: E.6.7

  • Money and the Role of Financial Institutions
    • Students will understand the role of money and financial institutions in a market economy.
      • Demonstrate how banks create money through the principle of fractional reserve banking.

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Standard: E.6.8

  • Money and the Role of Financial Institutions
    • Students will understand the role of money and financial institutions in a market economy.
      • Research and monitor financial investments, such as stocks, bonds and mutual funds.

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Standard: E.6.9

  • Money and the Role of Financial Institutions
    • Students will understand the role of money and financial institutions in a market economy.
      • Analyze the difference in borrowing costs using various rates of interest when purchasing a major item, such as a car or house.

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Standard: E.6.10

  • Money and the Role of Financial Institutions
    • Students will understand the role of money and financial institutions in a market economy.
      • Formulate a savings or financial investment plan for a future goal.

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Standard: E.7.1

  • Economic Stabilization
    • Students will understand the macroeconomic role of the government in developing and implementing economic stabilization policies and how these policies impact the economy.
      • Define and explain fiscal and monetary policy.

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Standard: E.7.2

  • Economic Stabilization
    • Students will understand the macroeconomic role of the government in developing and implementing economic stabilization policies and how these policies impact the economy.
      • Define the tools of fiscal and monetary policy.

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Standard: E.7.3

  • Economic Stabilization
    • Students will understand the macroeconomic role of the government in developing and implementing economic stabilization policies and how these policies impact the economy.
      • Describe the negative impacts of unemployment and unexpected inflation on an economy and how individuals and organizations try to protect themselves.

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Standard: E.7.4

  • Economic Stabilization
    • Students will understand the macroeconomic role of the government in developing and implementing economic stabilization policies and how these policies impact the economy.
      • Explain how monetary policy affects the level of inflation in the economy.

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Standard: E.7.5

  • Economic Stabilization
    • Students will understand the macroeconomic role of the government in developing and implementing economic stabilization policies and how these policies impact the economy.
      • Analyze how the government uses taxing and spending decisions (fiscal policy) to promote price stability, full employment and economic growth.

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Standard: E.7.6

  • Economic Stabilization
    • Students will understand the macroeconomic role of the government in developing and implementing economic stabilization policies and how these policies impact the economy.
      • Analyze how the Federal Reserve uses monetary tools to promote price stability, full employment and economic growth.

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Standard: E.7.7

  • Economic Stabilization
    • Students will understand the macroeconomic role of the government in developing and implementing economic stabilization policies and how these policies impact the economy.
      • Predict possible future effects of the national debt on the individual and the economy.

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Standard: E.7.8

  • Economic Stabilization
    • Students will understand the macroeconomic role of the government in developing and implementing economic stabilization policies and how these policies impact the economy.
      • Predict how changes in federal spending and taxation would affect budget deficits and surpluses and the national debt.

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Standard: E.7.9

  • Economic Stabilization
    • Students will understand the macroeconomic role of the government in developing and implementing economic stabilization policies and how these policies impact the economy.
      • Explain how a change in monetary or fiscal policy can impact a student's purchasing decision.

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Standard: E.8.1

  • Trade
    • Students will understand why individuals, businesses and governments trade goods and services and how trade affects the economies of the world.
      • Explain the benefits of trade among individuals, regions and countries.

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Standard: E.8.2

  • Trade
    • Students will understand why individuals, businesses and governments trade goods and services and how trade affects the economies of the world.
      • Define and distinguish between absolute and comparative advantage.

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Standard: E.8.3

  • Trade
    • Students will understand why individuals, businesses and governments trade goods and services and how trade affects the economies of the world.
      • Define trade barriers, such as quotas and tariffs.

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Standard: E.8.4

  • Trade
    • Students will understand why individuals, businesses and governments trade goods and services and how trade affects the economies of the world.
      • Explain why countries erect barriers to trade

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Standard: E.8.5

  • Trade
    • Students will understand why individuals, businesses and governments trade goods and services and how trade affects the economies of the world.
      • Explain the difference between balance of trade and balance of payments.

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Standard: E.8.6

  • Trade
    • Students will understand why individuals, businesses and governments trade goods and services and how trade affects the economies of the world.
      • Compare and contrast labor productivity trends in the United States and other developed countries.

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Standard: E.8.7

  • Trade
    • Students will understand why individuals, businesses and governments trade goods and services and how trade affects the economies of the world.
      • Explain how most trade occurs because of a comparative advantage in the production of a particular good or service.

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Standard: E.8.8

  • Trade
    • Students will understand why individuals, businesses and governments trade goods and services and how trade affects the economies of the world.
      • Explain how changes in exchange rates impact the purchasing power of people in the United States and other countries.

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Standard: E.8.9

  • Trade
    • Students will understand why individuals, businesses and governments trade goods and services and how trade affects the economies of the world.
      • Evaluate the arguments for and against free trade.

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Standard: E.8.10

  • Trade
    • Students will understand why individuals, businesses and governments trade goods and services and how trade affects the economies of the world.
      • Identify skills that individuals need to be successful in the global economy.

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