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Economics
Purpose:
Economics is the study of the allocation and utilization of limited
resources to meet society's needs and wants, including how goods and services
are produced and distributed. Through economics, students examine the relationship
between costs and benefits. They develop an understanding of economic concepts;
the economic system of the United States; other economic systems; the interactions
between and among different types of economics; and patterns of world trade.
The goal of economic education is to prepare students to make effective
decisions as consumers, producers, savers, and investors, and as citizens.
Curriculum
Standard #5: Students will demonstrate the ability to analyze the
potential costs and benefits of economic choices in market economies including
wants and needs; scarcity; tradeoffs; and the role of supply and demand,
incentives, and prices.
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Wants
and Needs
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Economic
Choice
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Supply
and Demand
Curriculum
Standard #6: Students will demonstrate the ability to examine the
interaction of individuals, households, communities, businesses, and governments
in market economies including competition; specialization; productivity;
traditional forms of enterprise; and the role of money and financial institutions.
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Goods
and Services
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Monetary
Systems
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Specialization
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Competition
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Changing
Technological Tools and Processes
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Function
of Government in Economy
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Forms
of Business
Curriculum
Standard #7: Students will demonstrate an understanding of different
types of economic systems, their advantages and disadvantages, and how
the economic systems used in particular countries may change over time.
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Economic
Systems
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Economic
Systems over time
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Comparative
Economic Systems
Curriculum
Standard #8:
Students will demonstrate an understanding of the patterns and results
of international trade including distribution of economic resources; imports
and exports; specialization; interdependence; exchange of money; and trade
policies.
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Imports
and Exports
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Interdependence
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Exchange
of Money
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Trade
Policies
Curriculum
#9: Students will demonstrate the ability and willingness to apply
economic concepts in the examination and resolution of problems and issues
in educational, occupational, civic, and everyday settings.
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Applications
of Concepts
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Marketing
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Consequences
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Decision
Making
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