Economic Standards

AZ Concept PO Standard Grade Level Key Terms
C1: Foundations PO 3 Describe the characteristics of the mixed-market economy of the United States: g. invisible hand 9, 10, 11, 12 invisible hand
C3: Macroeconomics PO 3 Describe the economic and non-economic consequences of unemployment. 9, 10, 11, 12
C5: Personal Finance PO 3 Describe the factors lenders consider before lending money. 6
C4: Global Economics PO 3 Describe the role of the United States government in influencing international commerce in regions studied. 8
C5: Personal Finance PO 3 Describe the role of the stock market in personal investing. 8
C5: Personal Finance PO 3 Determine short- and long-term financial goals and plans, including income, spending, saving, and investing. 9, 10, 11, 12 saving and investing
C2: Microeconomics PO 3 Explain the impact of government investment in physical capital (e.g., NASA, transportation). 8
C1: Foundations PO 3 Explain why specialization improves standards of living. 6
C1: Foundations PO 3 Give examples of how voluntary exchanges of goods and services can be mutually beneficial (e.g., ice cream vendor receives money, child receives ice cream; doctor receives monetary benefit, patient receives care). 4
C1: Foundations PO 3 Give examples of work activities that people do at home. K
C1: Foundations PO 3 Identify differences among natural resources (e.g., water, soil, and wood), human resources (e.g., people at work), and capital resources (e.g., machines, tools and buildings). 2 human capital
C1: Foundations PO 3 Identify goods and services (e.g., fire and police protection, immunizations, library) provided by local government. 3 role of government
C1: Foundations PO 3 Identify how governments and businesses make choices based on the availability of resources. 7 role of government
C2: Microeconomics PO 3 Identify how people earn income by selling their labor to businesses or governments. 5
C1: Foundations PO 3 Identify how voluntary exchange helps both buyers and sellers as in colonial trade in North America 5
C1: Foundations PO 3 Recognize that some goods are made locally and some are made elsewhere. 1
C3: Macroeconomics PO 4 Analyze fiscal policy and its effects on inflation, unemployment, and economic growth. 9, 10, 11, 12 inflation
C1: Foundations PO 4 Apply Adam Smith’s ideas of a market economy to: a. property rights 8 property rights, market economy
C1: Foundations PO 4 Apply Adam Smith’s ideas of a market economy to: b. freedom of enterprise 8 market economy
C1: Foundations PO 4 Apply Adam Smith’s ideas of a market economy to: c. competition 8 market economy, competition
C1: Foundations PO 4 Apply Adam Smith’s ideas of a market economy to: d.consumer choice 8 market economy
C1: Foundations PO 4 Apply Adam Smith’s ideas of a market economy to: e. limited role of government 8 market economy
C1: Foundations PO 4 Compare how money, as opposed to barter, facilitates trade. 6
C5: Personal Finance PO 4 Compare the advantages and disadvantages of using various forms of credit and the determinants of credit history. 9, 10, 11, 12
C2: Microeconomics PO 4 Describe how income for most people is determined by the value of the goods and services they sell. 8

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