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SOESD / Technology & Media Services / Media Materials Library / ODE Standards / Social Sciences Standards Search / High School Economics

High School Economics

 
CCG: Understand that resources are limited (e.g., scarcity).
 
bullet SS.HS.EC.01 Understand how specialization and competition influence the allocation of resources.
 
bullet SS.HS.EC.01.01 Understand how specialization increases efficiency, potential output, and consumer well being, but may have negative side effects.
 
CCG: Understand economic trade-offs and how choices result in both costs and benefits to individuals and society.
 
bullet SS.HS.EC.02 Understand a cost-benefit analysis of economic choices.
 
bullet SS.HS.EC.02.01 Compare and contrast the allocation of goods and services in market and command economies.
 
bullet SS.HS.EC.02.02 Understand how people make decisions by analyzing economic conditions and changes.
 
CCG: Understand how conditions in an economy influence and are influenced by the decisions of consumers, producers, economic institutions, and government.
 
bullet SS.HS.EC.03 Understand how consumer demand and market price directly impact one another.
 
bullet SS.HS.EC.03.01 Understand that competition among sellers leads to lower prices and impacts production.
 
bullet SS.HS.EC.03.02 Understand that competition among buyers increases prices and allocates goods and services only to those who can afford them.
 
CCG: Understand economic concepts, principles, and factors affecting the allocation of available resources in an economy.
 
bullet SS.HS.EC.04 Evaluate different economic systems, comparing advantages and disadvantages of each.
 
bullet SS.HS.EC.04.01 Use cost-benefit analysis to compare and contrast economic systems.
 
CCG: Understand the role of government and institutions (i.e., banks, labor unions) in various economic systems in an economy.
 
bullet SS.HS.EC.05 Understand how government can affect the national economy through policy.
 
bullet SS.HS.EC.06 Understand how government can affect international trade through tariffs, quotas and trade agreements.
 
bullet SS.HS.EC.06.01 Understand how government responds to problems in the economy (rapid inflation or rising unemployment) with fiscal and/or monetary policies.
 
bullet SS.HS.EC.06.02 Identify and give examples of ways that the U.S. government can affect the economy through legislation or policy decisions.
 
bullet SS.HS.EC.06.03 Identify tariffs, quotas, and trade agreements, and understand the consequences of their use on the economy.
 
CCG: Understand the interdependence of the global economy and the role played by the United States.
 
bullet SS.HS.EC.07 Understand the purposes and functions of major international economic organizations and the role of the United States in them.
 
bullet SS.HS.EC.07.01 Understand the purpose and function of international economic agencies and groups and how the United States interacts with people in other nations through these groups.
 
CCG: Understand how money makes it easier to trade, borrow, save, invest, and compare the value of goods and services.
 
bullet SS.HS.EC.08 Understand how money makes saving and borrowing easier.
 
bullet SS.HS.EC.08.01 Understand how money functions in the banking system and as part of fiscal policy.
 
CCG: Apply economic concepts and principles to issues of personal finance.
 
bullet SS.HS.EC.09 Understand the potential risks and returns of various investment opportunities, including entrepreneurship, in a market economy.
 
bullet SS.HS.EC.09.01 Identify and give examples of potential incentives and disincentives of entrepreneurship.
 
bullet SS.HS.EC.09.02 Identify and give examples of potential risks and returns of economic decisions under various economic conditions.
 
bullet SS.HS.EC.09.03 Understand the risks and benefits to the use of credit.
 



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