U. S. Government Economics



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U.S. Government

Economics

History

History

(1) History. The student understands major political ideas and forms of government in history. The student is expected to:

(A) explain major political ideas in history including natural law, natural rights, divine right of kings, and social contract theory; and

(B) identify the characteristics of classic forms of government including absolute monarchy, authoritarianism, classical republic, despotism, feudalism, liberal democracy, and totalitarianism.



(19) History. The student understands economic ideas and decisions from the past that have influenced the present and those of today that will affect the future. The student is expected to:

(A) analyze the importance of various economic philosophers such as John Maynard Keynes, Karl Marx, and Adam Smith and their impact on the U.S. free enterprise system;

(B) trace the history of the labor movement in the United States;

• the appeal of labor unions to workers during the 19th century

• the significance of key events in the history of the labor movement, including the formation of the Knights of Labor (1869) and the American Federation of Labor (AFL) (1886), the Haymarket riots (1886) and the Pullman strike (1894), the National Labor Relations (Wagner) Act (1935), the formation of the Congress of Industrial Organizations (CIO) (1938), the Taft-Hartley Act (1947), and the air traffic controllers’ strike (1981)

• the types of union shops: closed, open; the declining importance of unionized labor

• the relative importance of major issues generally considered during collective bargaining: wages, fringe benefits, working conditions, working hours, job security, and grievance procedures (orally or in writing)

• the process of collective bargaining (e.g., negotiation, mediation, arbitration)



  • Right to work vs. closed nion shops

• Appreciates the importance of compromise when resolving union–management disputes

• how unions use picketing and boycotts as part of their strategy during strikes

• ways that management may respond to a strike, in including lockouts, strike breakers, and injunctions

(C) analyze the impact of business cycles on U.S. history; and

• the causes of business cycles and gives examples

• he phases of a business cycle: expansion, peak (prosperity), contraction, and trough

• differentiate between a recession and a depression


  1. (D) identify the contributions of entrepreneurs, past and present, such as Mary Kay Ash, Andrew Carnegie, and Bill Gates

Michael Dell and Steve Jobs.

• define entrepreneur and give examples of the contributions of contemporary entrepreneurs (e.g., Mary Kay Ash; Berry Gordy, Jr.; Bill Gates; Dave Thomas; Ted Turner; Sam Walton; Les Wexner, Ray Croch)



(2) History. The student understands how constitutional government, as developed in the United States, has been influenced by people, ideas, and historical documents. The student is expected to:

(A) analyze the principles and ideas that underlie the Declaration of Independence and the U.S. Constitution, including those of Thomas Hobbes, John Locke, and Charles de Montesquieu; and historical documents including: Magna Carta, Petition of Rights, English Bill of Rights, Articles of Confederation, and the Virginia State Constitution

(B) analyze the contributions of the political philosophies of the Founding Fathers, including John Adams, Alexander Hamilton, Thomas Jefferson, and James Madison and George Mason, on the development of the U.S. government

(C) analyze debates and compromises necessary to reach political decisions using historical documents

Including slave compromises

(D) identify significant individuals in the field of government and politics, including Abraham Lincoln, George Washington, and selected contemporary leaders. such as Earl Warren, John F. Kennedy, Lyndon Baines Johnson, George Wallace, Martin Luther King, Jr., John Marshall, FDR, and Madison



(20) History. The student understands economic concepts embodied in historical documents including the U.S. Constitution. The student is expected to:

(A) identify economic concepts in the U.S. Constitution including property rights and taxation; and

(B) Analyze the impact of economic concepts in the U.S. Constitution on contemporary issues and policies.

• the causes and effects of the collapse and subsequent federal bail-out of savings and loans in 1989–1990

• the roles of antitrust legislation and regulatory agencies

• the results of Ronald W. Reagan’s supply-side economic program




(3) History. The student understands the roles played by individuals, political parties, interest groups, and the media in the U.S. political system, past and present. The student is expected to:

(A) give examples of the processes used by individuals, political parties, interest groups, or the media to affect public policy; and including: Individuals: boycotts, sit-ins, labor striker Political Parties: conventions, primaries, caucuses Interest Groups: lobbying

(B) analyze the impact of political changes brought about by individuals, political parties, interest groups, or the media, past and present. Including: Individuals: civil rights, MLK,Jr., Rosa Parks Media: Watergate




Geography

Geography

(4) Geography. The student understands why certain places and regions are important to the United States. The student is expected to:

(A) analyze the political significance to the United States of the location and geographic characteristics of selected places or regions including Cuba and Taiwan, Korea, Iraq

Europe (Great Britain), Russia (USSR), Japan, Middle East and China.

(B) analyze the economic significance to the United States of the location and geographic characteristics of selected places and regions including oil fields in the Middle East, China outsource movement and NAFTA.



(12) Geography. The student understands the geographic significance of the economic factors of production. The student is expected to:

(A) describe the effects of the unequal distribution of economic factors of production; and

• Land – distribution of natural resources

• Labor - the factors in the labor market that affect wages (e.g., skills, location, type of job), including the effects of the unequal distribution of available jobs

• Capital

(B) Analyze the locations of resources used in the production of an economic good and evaluate the significance of the locations.

• the locations of resources used in the production of an economic good and evaluates the significance of the locations

• types of jobs included in major job categories: blue-collar, white-collar, and service; or unskilled, semiskilled, and professional



(5) Geography. The student understands how government policies can affect the physical and human characteristics of places and regions. The student is expected to:

(A) analyze and evaluate the consequences of a government policy that affects the physical characteristics of a place or region; and

eminent domain, zoning, trade agreements (NAFTA), economic policy, taxation, agriculture, ,infrastructure, and industry.

(B) analyze and evaluate the consequences of a government policy that affects the human characteristics of a place or region,

immigration, segregation, housing policy.



(13) Geography. The student understands the reasons for international trade and its importance to the United States. The student is expected to:

(A) explain the concepts of absolute and comparative advantages;

(B) apply the concept of comparative advantage to explain why and how countries trade;

(C) analyze the impact of U.S. imports and exports on the United States and its trading partners; and

• how foreign trade works

• ways nations limit trade, including tariffs, revenue tariffs, protective tariffs, import quotas, and embargoes

• causes and the long-range effects of trade restrictions

• the difference between a positive and a negative balance of payments

(D) analyze changes in exchange rates of world currencies and the effects on the balance of trade.




(14) Geography. The student understands the issues of free trade and the effects of trade barriers. The student is expected to:

(A) compare the effects of free trade and trade barriers on economic activities; and

• the effects of current international trade agreements (orally or in writing)

• the difference between a positive and a negative balance of payments


(B) evaluate the benefits and costs of participation in international free-trade agreements.

Such as: NAFTA, the European Union, UN Oil for Food Program, the movement of the economy to service industries



Economics

Economics

(6) Economics. The student understands the roles played by local, state, and national governments in both the public and private sectors of the U.S. free enterprise system. The student is expected to:

(A) analyze government policies that influence the economy at the local, state, and national levels

(including: federal reserve, and federalism);
(B) identify the sources of revenue and expenditures of the U. S. government and analyze their impact on the U.S. economy; and

(including taxation (defense, education, entitlements) and general budget)


(C) compare the role of government in the U.S. free enterprise system and other economic systems.

(e.g. socialism, communism)



(4) Economics. The student understands the basic principles of the U.S. free enterprise system. The student is expected to:

(A) explain the basic principles of the U.S. free enterprise system including profit motive, voluntary exchange, private property rights, and competition; and

• relationship between competition (the “invisible hand”) and profit incentive

• conditions necessary for pure competition

(B) explain the benefits of the U.S. free enterprise system including individual freedom of consumers and producers, variety of goods, responsive prices, and investment opportunities.


  • Identify contributions of entrepreneurs past and present, Mary K ash, Bill Gates, Truman Arnold

(7) Economics. The student understands the relationship between U.S. government policies and international trade. The student is expected to:

(A) explain the effects of international trade on U.S. economic and political policies

( through: executive agreements and the United Nations)

(B) explain the government's role in setting international trade policies.

(through discussion of Trade Deficits, Trade Barriers, and EPA)


(5) Economics. The student understands the concepts of scarcity and opportunity costs. The student is expected to:

(A) explain why scarcity and choice are basic problems of economics; and



  1. (B) interpret a production-possibilities curve and explain the concepts of opportunity costs and scarcity.

• how a production possibilities curve helps determine which goods are produced

• how opportunity costs and production possibilities are used to make economic decisions, including examples of trade-offs





(6) Economics. The student understands the circular-flow model of the economy. The student is expected to:

(A) interpret a circular-flow model of the economy and provide real-world examples to illustrate elements of the model; and

(B) Explain how government actions affect the circular-flow model.




(7) Economics. The student understands the interaction of supply, demand, and price. The student is expected to:

(A) identify the determinants that create changes in supply, demand, and price; and

• the law of demand, including exceptions

demand elasticity

• the law of supply, including exceptions

• supply elasticity

• the law of diminishing marginal utility


  • Aggregate supply

  • Aggregate Demand

(B) interpret a supply-and-demand graph using supply-and-demand schedules.

• supply and demand curves, given appropriate data

• causes and effects of shifts in supply and demand curves





(8) Economics. The student understands the role of financial institutions in saving, investing, and borrowing. The student is expected to:

(A) explain the functions of financial institutions and how the role of financial institutions has changed over time; and

• how the Federal Reserve regulates financial institutions

• differentiate among commercial banks, savings and loans, credit unions, finance companies, and consumer finance companies

• the creation and role of the FDIC
(B) analyze how financial institutions affect households and businesses.




(9) Economics. The student understands types of business ownership and types of market structures. The student is expected to:

(A) explain the characteristics of sole proprietorships, partnerships, and corporations;

(B) analyze the advantages and disadvantages of sole proprietorships, partnerships, and corporations; and

(C) describe characteristics and give examples of pure competition, monopolistic competition, oligopoly, and monopoly

• four types of monopolies and gives examples of each: geographic, technological, governmental, and natural




(10) Economics. The student understands traditional, command, and market economic systems. The student is expected to:

(A) explain the characteristics and give examples of traditional, command, and market economic systems; and

• the societal values that influence traditional, command, and market economies

• how prices and products are determined in different types of markets

(B) compare the U.S. free enterprise system with other economic systems.




(11) Economics. The student understands the basic concepts of consumer economics. The student is expected to:

(A) analyze the factors involved in the process of acquiring consumer goods and services including credit, interest, and insurance;

(B) compare different means by which savings can be invested and the risks and rewards each poses to the consumer;

Such as: demand deposits, time deposits, commodities, stocks and bonds, and mutual funds

(C) Analyze the economic impact of investing in the stock and bond markets.

Such as: stock market crash of 1929, junk bonds and ENRON



Government

Government

(8) Government. The student understands the American beliefs and principles reflected in the U.S. Constitution. The student is expected to:

(A) explain the importance of a written constitution;

(using Magna Carta, Petition of Rights, English Bill of Rights)

(B) evaluate how the federal government serves the purposes set forth in the Preamble to the U.S. Constitution;

(C) analyze how the Federalist Papers explain the principles of the American constitutional system of government;

(D) evaluate constitutional provisions for limiting the role of government, including republicanism, checks and balances, federalism, separation of powers, popular sovereignty, and individual rights;

(E) analyze the processes by which the U.S. Constitution can be changed and evaluate their effectiveness; and

(F) analyze how the American beliefs and principles reflected in the U.S. Constitution contribute to our national identity.





(15) Government. The student understands the role that the government plays in the U.S. free enterprise system. The student is expected to:

(A) describe the role of government in the U.S. free enterprise system; and

• the purpose of usury laws (i.e. government regulatory legislation and laissez-faire
(B) evaluate government rules and regulations in the U.S. free enterprise system



(9) Government. The student understands the structure and functions of the government created by the U.S. Constitution. The student is expected to:

(A) analyze the structure and functions of the legislative branch of government, including the bicameral structure of Congress, the role of committees, and the procedure for enacting laws;

(B) analyze the structure and functions of the executive branch of government, including the constitutional powers of the president, the growth of presidential power, and the role of the Cabinet and executive departments;

(C) analyze the structure and functions of the judicial branch of government, including the federal court system and types of jurisdiction;

(D) analyze the functions of selected independent executive agencies and regulatory commissions such as the National Aeronautics and Space Administration and the Federal Communications Commission;

(E) explain how certain provisions of the U.S. Constitution provide for checks and balances among the three branches of government;

(F) analyze selected issues raised by judicial activism and judicial restraint;

(G) explain the major responsibilities of the federal government for domestic and foreign policy;

(H) compare the structure and functions of the Texas state government to the federal system; and

(I) analyze the structure and functions of local government.



(16) Government. The student understands the goals of economic growth, stability, full employment, freedom, security, equity, and efficiency as they apply to U.S. economic policy. The student is expected to:

(A) describe the goals of U.S. economic policy; and

(B) Analyze how economic growth, stability, and full employment are measured.

• the stages of production: increasing, diminishing, and negative returns

• how national income is determined: by measuring the amount earned by businesses and individuals or by measuring the value of goods and services produced

• the effects of inflation and deflation on real income

• the factors that influence national income (e.g., efforts of workers, level of employment, quality and quantity of fixed capital), including the impact of societal values on economic development

• three measures of inflation: consumer price index, producer price index, and the implicit GNP deflator

demand-pull inflation and cost-push inflation

• how the federal deficit is measured








(10) Government. The student understands the concept of federalism. The student is expected to:

(A) explain why the Founding Fathers created a distinctly new form of federalism and adopted a federal system of government instead of a unitary system; such as the Confederate System

(B) categorize government powers as national, state, or shared; including Reserved, concurrent, delegated, implied, expressed, and denied

(C) analyze historical conflicts over the respective roles of national and state governments; and including federalist/Anti-Federalist, Civil War, current stats

(D) evaluate the limits on the national and state governments in the U.S. federal system of government. including the 14th Amendment and the Bill of Rights


(17) Government. The student understands the economic impact of fiscal policy decisions at the local, state, and national levels. The student is expected to:

(A) identify types of taxes at the local, state, and national levels and the economic importance of each;

• goals of various tax systems (e.g., fairness, ease of operation, clarity, sufficient revenue) (orally or in writing)

• three forms of taxation: proportional, progressive, and regressive

• taxes affect allocation of resources and productivity

• major sources of federal revenue: Social Security, income, corporate, excise, estate, and gift taxes and customs duties

• sources of state and local revenue: sales, property, in heritance, excise, estate, and income taxes

• major spending areas of the U.S. government (e.g., national defense, Social Security payments, interest on the deficit)

• the allocation of tax revenues by state governments (e.g., property taxes used to fund schools)
(B) analyze the categories of revenues and expenditures in the U.S. federal budget; and

• the importance of a balanced governmental budget (orally or in writing)

• the government provides for the public well-being through income redistribution: public assistance (e.g., Supplemental Security Income) and social insurance (e.g., Social Security)

• major spending areas of the U.S. government (e.g., national defense, Social Security payments, interest on the deficit)


(C) Analyze the impact of fiscal policy decisions on the economy.

• how the goals of a nation affect the type of economic system that develops within that nation, using real-world examples

• the impact of fiscal policy decisions on the local, state, and national economies


(11) Government. The student understands the processes for filling public offices in the U.S. system of government. The student is expected to:

(A) compare different methods of filling public offices, including elected and appointed offices, at the local, state, and national levels; and

(B) analyze and evaluate the process of electing the President of the United States.

(and the procedures and function of the electoral college)





(18) Government. The student understands the role of the Federal Reserve System in establishing monetary policy. The student is expected to:

(A) explain the structure of the Federal Reserve System; and

• types of money used in the U.S.: currency, checks, and near monies (e.g., savings account balances, time deposits, annuities)

• tight and loose money policies and analyzes the impact of each on the economy

• organization and function of the Federal Reserve System (the Fed)
(B) Analyze the three basic tools used to implement U.S. monetary policy.

monetary policy (inducing changes in the money supply and interest rates for the purpose of stimulating the economy during recession and or to restrain economic activity during periods of inflation)

fiscal policy (influencing the economy through taxation and government expenditures)

incomes policy (influencing the economy through wage and price guidelines)

• the impact of the methods that the Fed uses to implement monetary policy and control the U.S. money supply: changing reserve requirements, issuing paper currency and coins, buying or selling government securities (open-market operations), and changing the rate of interest that member banks are required to pay for loans (short-term commercial paper)


(12) Government. The student understands the role of political parties in the U.S. system of government. The student is expected to:

(A) identify the functions of political parties;

(B) analyze the two-party system and evaluate the role of third parties in the United States;

(C) analyze the role of political parties in the electoral process at local, state, and national levels; and

(D) identify opportunities for citizens to participate in political party activities at local, state, and national levels.




(13) Government. The student understands the similarities and differences that exist among the U.S. system of government and other political systems. The student is expected to:

(A) compare the U.S. system of government with other political systems;

(B) analyze advantages and disadvantages of federal, confederate, and unitary systems of government; and

(C) analyze advantages and disadvantages of presidential and parliamentary systems of government.





Citizenship

Citizenship

(14) Citizenship. The student understands rights guaranteed by the U.S. Constitution. The student is expected to:

(A) understand the roles of limited government and the rule of law to the protection of individual rights;

(including the Bill of Rights and the 14th Amendment)

(B) analyze the rights guaranteed by the Bill of Rights, including first amendment freedoms;

(C) analyze issues addressed in selected cases such as Engel v. Vitale, Miranda v. Arizona, and Schenck v. U.S. that involve Supreme Court interpretations of rights guaranteed by the U.S. Constitution;

(include Judicial Review)

(D) analyze the role of each branch of government in protecting the rights of individuals;

(e.g. Congress passage of Civil Rights Act of 1964, Presidential enforcement of Supreme Court decision)

(E) explain the importance of due process rights to the protection of individual rights and to the limits on the powers of government; and

(found in the 5th and 14th amendments)

(F) analyze the impact of the incorporation doctrine involving due process and the Bill of Rights on individual rights, federalism, and majority rule.

(found in the 14th amendment)



(2) Citizenship. The student understands the rights and responsibilities of businesses in the U.S. free enterprise system. The student is expected to:

(A) analyze the economic rights and responsibilities of businesses;

Such as: illegal workers, sweat shops, defective product, recall procedures and tobacco industry cover-up

(B) analyze the consequences of an economic decision made by a business;

(C) analyze the ethics policy of a selected business; and

Such as: accounting practices and illegal workers

(D) identify and evaluate ordinances and regulations that apply to the establishment of various types of businesses.

Such as: zoning laws, anti-trust legislation, smoking ordinance and noise ordinance





(15) Citizenship. The student understands the difference between personal and civic responsibilities. The student is expected to:

(A) explain the difference between personal and civic responsibilities; using voting participation and jury duty

(B) evaluate whether and/or when the obligation of citizenship requires that personal desires and interests be subordinated to the public good;

Such as Eminent Domain

(C) evaluate whether and/or when the rights of individuals are inviolable even against claims for the public good; and

(D) analyze the consequences of political decisions and actions on society.



(3) Citizenship. The student understands the right to own, use, and dispose of private property. The student is expected to:

(A) analyze an example of the responsible purchase, use, or disposal of personal and business property; and

(B) identify and evaluate examples of restrictions that the government places on the use of business and individual property.

Such as: zoning laws, ordinances against pornography, smoking and alcohol





(16) Citizenship. The student understands the importance of voluntary individual participation in the U.S. democratic society. The student is expected to:

(A) analyze the effectiveness of various methods of participation in the political process at local, state, and national levels; including voting, congressional contact, interest groups, and political parties

(B) analyze historical and contemporary examples of citizen movements to bring about political change or to maintain continuity; including Civil Rights, Women’s Rights, Anti-war, and Gay Rights

(C) analyze the factors that influence an individual's political attitudes and actions; and including education, family, media, socio-economic index, race and ethnicity

(D) compare and evaluate characteristics, style, and effectiveness of state and national leaders, past and present. such as George Washington, Abraham Lincoln, Theodore Roosevelt, FDR, Eisenhower, JFK,Jr., LBJ, Nixon, Reagan, Clinton, and GW Bush




(17) Citizenship. The student understands the importance of the expression of different points of view in a democratic society. The student is expected to:

(A) analyze different points of view of political parties and interest groups on important contemporary issues; including abortion, gun regulation, gay rights, stem cell research, social security, immigration, and education

(B) analyze the importance of free speech and press in a democratic society

Citing selected court cases

(C) express and defend a point of view on an issue of contemporary interest in the United States.




Culture

Culture

(18) Culture. The student understands the relationship between government policies and the culture of the United States. The student is expected to:

(A) evaluate a political policy or decision in the United States that was a result of changes in American culture; and

include Roe vs. Wade, voting rights, Brown Vs. Board of Education, prohibition, Amendments 18, 21, and 26

(B) analyze changes in American culture brought about by government policies such as voting rights, the GI bill, and racial integration; and

(C) describe an example of a government policy that has affected a particular racial, ethnic, or religious group. include affirmative action, bigamy, profiling, Patriot Act


(21) Culture. The student understands how societal values affect a nation's economy. The student is expected to:

(A) analyze the societal values that determine how a country answers the basic economic questions; and

• Answer the basic questions faced by every economic system: What goods and services will be produced? How will they be produced? Who will produce them? For whom will they be produced?
(B) describe the societal values that influence traditional, command, and market economies.

• Traditional

• Command

• Market





(22) Culture. The student understands the impact of a nation's culture on its level of economic development. The student is expected to:

(A) describe the level of economic development of selected nations; and

(B) analyze how societal values affect the economic development of nations.



Science, Technology, and Society

Science, Technology, and Society

(19) Science, technology, and society. The student understands the role the government plays in developing policies and establishing conditions that influence scientific discoveries and technological innovations. The student is expected to:

(A) identify examples of government-assisted research that, when shared with the private sector, have resulted in improved consumer products such as computer and communication technologies; and such as NASA, microwaves, and Internet, Velcro, freeze-dried coffee

(B) analyze how U.S. government policies fostering competition and entrepreneurship have resulted in scientific discoveries and technological innovations.

such as anti-trust legislation, patents and copyrights



(26) Science, technology, and society. The student understands the effects of science and technology on an economy. The student is expected to:

(A) analyze the effect of technology on productivity;

Such as: assembly lines, automation, computers and Internet

(B) analyze the economic effects of the development of communication and transportation systems in the United States;

(C) analyze the economic impact of obsolescence created by technological innovations; and

(D) analyze how technological innovations change the way goods are manufactured, marketed, and distributed.





(20) Science, technology, and society. The student understands the impact of advances in science and technology on government and society. The student is expected to:

(A) analyze the potential impact on society of recent scientific discoveries and technological innovations; and such as cell phones, global positioning, DNA, Internet, stem cell research, pre-natal testing, and cloning in regards to rights of privacy , thermal imaging

(B) analyze the reaction of government to scientific discoveries and technological innovations.



(27) Science, technology, and society. The student understands the economic effects of scientific discoveries and technological innovations on households, businesses, and government. The student is expected to:

(A) give examples of types of economic information available as a result of technological innovations; and

Such as: computer trading of stocks and bonds, online banking, loans and purchasing

(B) explain how scientific discoveries and technological innovations create the need for rules and regulations to protect individuals and businesses.

Such as: privacy, taxation, alcohol, pornography and pharmaceutical sales


Social Studies Skills

Social Studies Skills

(21) Social studies skills. The student applies critical-thinking skills to organize and use information acquired from a variety of sources including electronic technology. The student is expected to:

(A) analyze information by sequencing, categorizing, identifying cause-and-effect relationships, comparing, contrasting, finding the main idea, summarizing, making generalizations and predictions, and drawing inferences and conclusions;

(B) create a product on a contemporary government issue or topic using critical methods of inquiry;

(C) explain a point of view on a government issue;

(D) analyze and evaluate the validity of information from primary and secondary sources for bias, propaganda, point of view, and frame of reference;

(E) evaluate government data using charts, tables, graphs, and maps; and

(F) use appropriate mathematical skills to interpret social studies information such as maps and graphs.


(23) Social studies skills. The student applies critical-thinking skills to organize and use information acquired from a variety of sources including electronic technology. The student is expected to:

(A) analyze information by sequencing, categorizing, identifying cause-and-effect relationships, comparing, contrasting, finding the main idea, summarizing, making generalizations and predictions, and drawing inferences and conclusions;

• the four types of unemployment: cyclical, frictional, seasonal, and structural

• the characteristics of developing nations: low per capita GNP, traditional (agricultural) economic system, limited technology, a growing population, poor health conditions, and a low literacy rate


(B) create economic models such as production-possibilities curves, circular-flow charts, and supply-and-demand graphs to analyze economic data;

• measures of cost: fixed, variable , total, marginal, and average

• difference between total revenue and marginal revenue

• how to determine maximum profits

• the importance of the break-even point


  • Variables that create shifts in supply and demand

• the importance of the equilibrium price

• how differences in elasticity affect the rate at which prices change

• differences between gross income, net income, and profit

• Explains how the law of diminishing returns affects business decisions

• create an economic model to illustrate the application of the theories of Thomas Malthus to the problems of developing nations

• creates economic models to analyze economic data (e.g., production possibilities curves, circular-flow charts, supply and demand graphs

(C) create a product on a contemporary economic issue or topic using critical methods of inquiry;

(D) explain a point of view on an economic issue;

• compare and contrast capitalist and socialist economies

• the economy of one of the independent nations that emerged from the breakup of the U.S.S.R. in 1991

• the pros and cons of multi-national corporations from various points of view (e.g., stockholders, the U.S. government)

(E) analyze and evaluate the validity of information from primary and secondary sources for bias, propaganda, point of view, and frame of reference;

• the sources of investment capital for developing nations (e.g., domestic earnings and savings, foreign aid, foreign investment)

(F) evaluate economic-activity patterns using charts, tables, graphs, and maps; and

(G) use appropriate mathematical skills to interpret social studies information.


(22) Social studies skills. The student communicates in written, oral, and visual forms. The student is expected to:

(A) use social studies terminology correctly;

(B) use standard grammar, spelling, sentence structure, and punctuation;

(C) transfer information from one medium to another, including written to visual and statistical to written or visual, using computer software as appropriate; and

(D) create written, oral, and visual presentations of social studies information.


(24) Social studies skills. The student communicates in written, oral, and visual forms. The student is expected to:

(A) use social studies terminology correctly;

(B) use standard grammar, spelling, sentence structure, and punctuation;

(C) transfer information from one medium to another including written to visual and statistical to written or visual using computer software as appropriate; and

(D) create written, oral, and visual presentations of social studies information.


(23) Social studies skills. The student uses problem-solving and decision-making skills, working independently and with others, in a variety of settings. The student is expected to:

(A) use a problem-solving process to identify a problem, gather information, list and consider options, consider advantages and disadvantages, choose and implement a solution, and evaluate the effectiveness of the solution; and

(B) use a decision-making process to identify a situation that requires a decision, gather information, identify options, predict consequences, and take action to implement a decision.



(25) Social studies skills. The student uses problem-solving and decision-making skills, working independently and with others, in a variety of settings. The student is expected to:

(A) use a problem-solving process to identify a problem, gather information, list and consider options, consider advantages and disadvantages, choose and implement a solution, and evaluate the effectiveness of the solution; and

• the advantages and disadvantages of geographic, occupational, and resource specialization

(B) Use a decision-making process to identify a situation that requires a decision, gather information, identify options, predict consequences, and take action to implement a decision.

• the purpose of market research

• the changing role of marketing in the U.S. in the 20th century



• use a decision-making process to identify a situation that requires a decision, gather information, identify options, predict consequences, and take action to implement a decision















































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