Economic Standards

AZ Concept PO Standard Grade Level Key Terms
C2: Microeconomics PO 2 Explain the impact of government investment in human capital: c. training of people (e.g., Job Corps) 8 human capital
C1: Foundations PO 2 Identify opportunity costs in personal decision-making situations. 3 opportunity cost
C1: Foundations PO 2 Identify that specialization improves standards of livingIdentify that specialization improves standards of living (e.g., medical care, home building, agriculture). 4
C3: Macroeconomics PO 2 Identify the effects of inflation on society. 8 inflation
C4: Global Economics PO 2 Identify the effects of trade restrictions between national and world regions. 8
C4: Global Economics PO 2 Identify the patterns of economic interaction (e.g., national debt, balance of trade) between countries. 7
C1: Foundations PO 2 Match simple descriptions of work with the names of those jobs. K
C2: Microeconomics PO 2 PO 2. Describe how markets function: e. comparison of monopolistic and competitive behaviors 9, 10, 11, 12
C1: Foundations PO 2 Recognize that people need to make choices because of limited resources. 1 limited resources
C1: Foundations PO 3 Analyze how individuals, governments and businesses make choices based on the availability of resources. 8 limited resources
C3: Macroeconomics PO 3 Analyze the government’s role in economic recovery. 8
C3: Macroeconomics PO 3 Analyze the government’s role (e.g., FDIC, Securities and Exchange Commission) in national economic recovery. 7
C2: Microeconomics PO 3 Describe how education, skills, and career choices affect income. 4
C2: Microeconomics PO 3 Describe how government policies influence the economy: a. need to compare costs and benefits of government policies before taking action 9, 10, 11, 12
C2: Microeconomics PO 3 Describe how government policies influence the economy: b. use of federal, state & local government spending to provide national defense; address environmental concerns; define & enforce property, consumer & worker rights; regulate markets; & provide good 9, 10, 11, 12
C2: Microeconomics PO 3 Describe how government policies influence the economy: c. effects of progressive, proportional, and regressive taxes on different income groups 9, 10, 11, 12 regressive tax, proportional tax, progressive tax
C2: Microeconomics PO 3 Describe how government policies influence the economy: d. role of self-interest in decisions of voters, elected officials, and public employees 9, 10, 11, 12
C5: Personal Finance PO 3 Describe how income for most people is determined by the value of the goods and services they sell. 7
C2: Microeconomics PO 3 Describe how investment in physical capital (e.g., factories, machinery, new technology) leads to economic growth. 7 economic growth
C1: Foundations PO 3 Describe the characteristics of the mixed-market economy of the United States: a. property rights 9, 10, 11, 12
C1: Foundations PO 3 Describe the characteristics of the mixed-market economy of the United States: b. profit motive 9, 10, 11, 12
C1: Foundations PO 3 Describe the characteristics of the mixed-market economy of the United States: c. consumer sovereignty 9, 10, 11, 12
C1: Foundations PO 3 Describe the characteristics of the mixed-market economy of the United States: d. competition 9, 10, 11, 12
C1: Foundations PO 3 Describe the characteristics of the mixed-market economy of the United States: e. role of the government 9, 10, 11, 12
C1: Foundations PO 3 Describe the characteristics of the mixed-market economy of the United States: f. rational self-interest 9, 10, 11, 12 rational self-interest

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