Standards
Enduring Understandings -
important ideas
that students should carry with them years beyond the instruction received
this year.
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Decisions must be made about the use of scarce resources.
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Making
economic choices imposes opportunity costs.
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Economic incentives influence the use of scarce resources.
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Different societies use different economic systems.
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The
type of economic system a society uses is determined by how it answers
the basic What, How, and Who questions of economics.
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Prices
are the way producers and consumers communicate with one another.
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The US
Government uses monetary and fiscal policy to influence the economy.
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Trade,
global interdependence and specialization contribute to economic growth.
Essential Questions
- most important “big picture” questions students should be able to answer
after completing learning activities.
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How
does scarcity influence how economic decisions are made?
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How do
incentives and opportunity costs influence economic decision-making?
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How
are economic systems alike and how are the different?
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What
are the costs and benefits of each system?
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How
are prices signals to producers and consumers?
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What
determines changes in supply and demand?
-
How
does the US government use monetary and fiscal policy to influence the
economy?
-
How do trade, global interdependence and specialization contribute to
economic growth?
Standards and Benchmarks
Standard 1: Students understand that
because of the condition of scarcity, decisions must be made about the use
of scarce resources.
Benchmark A: Students know that economic choices are made because
resources are scarce and that the act of making economic choices imposes
opportunity cost.
Benchmark B: Students understand that economic incentives influence the
use of scarce human, capital, and natural resources.
Benchmark C: Students understand that resources can be used in many ways and
understand the costs of alternative uses.
Standard 2: Students understand how different economic systems employ
different means to produce, distribute, and exchange goods and services.
Benchmark A: Students understand that different economic systems
employ different means to produce, distribute, and exchange goods and
services.
Benchmark B: Students understand the fundamental characteristics
of the United States Economic System.
Benchmark
C: Students understand that government actions and policies, including
taxes, spending and regulations influence the operation of economies.
Standard 3: Students understand the results of trade, exchange, and
interdependence among individuals, households, businesses, governments, and
societies.
Benchmark A: Students understand that the exchange of goods and services
creates economic interdependence and change.
Benchmark B: Students understand how a country's monetary system
facilitates the exchange of resources.
District 11 Economics Indicators
1. Make
economic decisions based on an economic way of thinking.
2. Identify
personal investment strategies.
3. Compare
and contrast economic systems.
4. Explain
how the price system affects producers and consumers.
5. Describe
the economic roles of the US government.
6. Describe
the impact of trade and global interdependence on the US economy. |
