Economic Standards

AZ Concept PO Standard Grade Level Key Terms
C5: Personal Finance PO 1 Explain how education, career choices, and family obligations affect future income. 9, 10, 11, 12
C1: Foundations PO 1 Explain how limited resources and unlimited human wants cause people to choose some things and give up others. 7 limited resources, unlimited wants
C1: Foundations PO 1 Explain how limited resources and unlimited human wants cause people to choose some things and give up others. 8 limited resources, unlimited wants
C2: Microeconomics PO 1 Explain how price incentives affect peoples’ behavior and choices, such as colonial decisions about what crops to grow and which products to produce. 4 incentives
C2: Microeconomics PO 1 Explain how price incentives affect peoples’ behavior and choices, such as colonial decisions about what crops to grow and which products to produce. 5 incentives
C5: Personal Finance PO 1 Explain how scarcity influences personal financial choices (e.g., budgeting, saving, investing, credit). 8 scarcity, saving and investing
C5: Personal Finance PO 1 Explain how the following are used to purchase goods and services: a. cash 5
C5: Personal Finance PO 1 Explain how the following are used to purchase goods and services: b. check 5
C5: Personal Finance PO 1 Explain how the following are used to purchase goods and services: c. money order 5
C5: Personal Finance PO 1 Explain how the following are used to purchase goods and services: d. debit card 5
C5: Personal Finance PO 1 Explain how the following are used to purchase goods and services: e. credit card 5
C4: Global Economics PO 1 Explain how voluntary exchange benefits buyers and sellers. 7
C1: Foundations PO 1 Explain the decision for a personal spending choice. 4
C1: Foundations PO 1 Identify how scarcity requires people to make choices due to their unlimited wants and needs. 3 scarcity, unlimited wants
C1: Foundations PO 1 Identify how limited resources and unlimited human wants cause people to choose some things and give up others. 6 limited resources, unlimited wants
C2: Microeconomics PO 1 Identify the functions and relationships among various institutions (e.g., business firms, banks, government agencies, labor unions, corporations) that make up an economic system. 8
C2: Microeconomics PO 1 Identify the functions and relationships among various institutions (e.g., business firms, banks, government agencies, labor unions, corporations) that make up an economic system. 7
C1: Foundations PO 1 Identify the opportunity costs (i.e., separation from family, indentured service) associated with expeditions to the New World 5 opportunity cost
C3: Macroeconomics PO 1 Identify the organization and functions of the Federal Reserve System. 8
C2: Microeconomics PO 10 Describe the government’s role in economic recovery for the individual (e.g., farm subsidy, securities, Social Security, exchange regulations). 7 role of government
C5: Personal Finance PO 2 Analyze how advertising influences consumer choices. 9, 10, 11, 12
C1: Foundations PO 2 Analyze how scarcity, opportunity costs, and trade-offs influence decision making. 7 scarcity, opportunity cost, trade-offs
C1: Foundations PO 2 Analyze how scarcity, opportunity costs, and trade-offs, influence decision-making. 8 scarcity, opportunity cost, trade-offs
C1: Foundations PO 2 Analyze production possibilities curves to describe opportunity costs and trade-offs. 9, 10, 11, 12 production possibilities curve, opportunity cost, trade-offs
C3: Macroeconomics PO 2 Analyze the effects (e.g., inflation, unemployment) of the Great Depression 7

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