AZ Standards Grade 9, 10, 11, 12

Concept PO Standard Key Terms
C3: Macroeconomics PO 4 Analyze fiscal policy and its effects on inflation, unemployment, and economic growth. inflation
C5: Personal Finance PO 2 Analyze how advertising influences consumer choices.
C1: Foundations PO 2 Analyze production possibilities curves to describe opportunity costs and trade-offs. production possibilities curve, opportunity cost, trade-offs
C1: Foundations PO 1 Analyze the implications of scarcity: a. limited resources and unlimited human wants influence choice at individual, national, and international levels limited resources, unlimited wants
C1: Foundations PO 1 Analyze the implications of scarcity: b. factors of production (e.g., natural, human, and capital resources, entrepreneurship, technology)
C1: Foundations PO 1 Analyze the implications of scarcity: c. marginal analysis by producers, consumers, savers, and investors scarcity
C4: Global Economics PO 1 Analyze the similarities and differences among economic systems: a. characteristics of market, command, and mixed economic systems, including roles of production, distribution, and consumption of goods and services
C4: Global Economics PO 1 Analyze the similarities and differences among economic systems: b. benefits and costs of market and command economies
C4: Global Economics PO 1 Analyze the similarities and differences among economic systems: c. characteristics of the mixed-market economy of the US, including such concepts as private ownership, profit motive, consumer sovereignty, competition, and government regulation
C4: Global Economics PO 1 Analyze the similarities and differences among economic systems: d. role of private property in conserving scarce resources and providing incentives in a market economy incentives
C5: Personal Finance PO 4 Compare the advantages and disadvantages of using various forms of credit and the determinants of credit history.
C2: Microeconomics PO 3 Describe how government policies influence the economy: a. need to compare costs and benefits of government policies before taking action
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
C2: Microeconomics PO 3 Describe how government policies influence the economy: c. effects of progressive, proportional, and regressive taxes on different income groups 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
C2: Microeconomics PO 2 Describe how markets function: a. laws of supply and demand financial markets
C2: Microeconomics PO 2 Describe how markets function: b. how a market price is determined
C2: Microeconomics PO 2 Describe how markets function: c. graphs that demonstrate changes in supply and demand
C2: Microeconomics PO 2 Describe how markets function: d. how price ceilings and floors cause shortages or surpluses
C2: Microeconomics PO 2 Describe how markets function: f. theory of production and the role of cost
C2: Microeconomics PO 1 Describe how the interdependence of both households and firms is affected by trade, exchange, money, and banking: a. why voluntary exchange occurs only when all participating parties expect to gain from the exchange
C2: Microeconomics PO 1 Describe how the interdependence of both households and firms is affected by trade, exchange, money, and banking: b. role and interdependence of households, firms, and government in the circular flow model of economic activity
C2: Microeconomics PO 1 Describe how the interdependence of both households and firms is affected by trade, exchange, money, and banking: c. role of entrepreneurs in a market economy and how profit is an incentive that leads entrepreneurs to accept risks of business failure
C2: Microeconomics PO 1 Describe how the interdependence of both households and firms is affected by trade, exchange, money, and banking: d. financial institutions and securities markets
C2: Microeconomics PO 1 Describe how the interdependence of both households and firms is affected by trade, exchange, money, and banking: e. importance of rule of law in a market economy for enforcement of contracts
C1: Foundations PO 3 Describe the characteristics of the mixed-market economy of the United States: a. property rights
C1: Foundations PO 3 Describe the characteristics of the mixed-market economy of the United States: b. profit motive
C1: Foundations PO 3 Describe the characteristics of the mixed-market economy of the United States: c. consumer sovereignty
C1: Foundations PO 3 Describe the characteristics of the mixed-market economy of the United States: d. competition
C1: Foundations PO 3 Describe the characteristics of the mixed-market economy of the United States: e. role of the government
C1: Foundations PO 3 Describe the characteristics of the mixed-market economy of the United States: f. rational self-interest rational self-interest
C1: Foundations PO 3 Describe the characteristics of the mixed-market economy of the United States: g. invisible hand invisible hand
C3: Macroeconomics PO 3 Describe the economic and non-economic consequences of unemployment.
C4: Global Economics PO 2 Describe the effects of international trade on the United States and other nations: g. economic connections among different regions, including changing alignments in world trade partners
C4: Global Economics PO 2 Describe the effects of international trade on the United States and other nations: a. how people and nations gain through trade
C4: Global Economics PO 2 Describe the effects of international trade on the United States and other nations: b. how the law of comparative advantage leads to specialization and trade
C4: Global Economics PO 2 Describe the effects of international trade on the United States and other nations: c. effects of protectionism, including tariffs and quotas on international trade and on a nation’s standard of living
C4: Global Economics PO 2 Describe the effects of international trade on the United States and other nations: d. how exchange rates work and how they affect international trade
C4: Global Economics PO 2 Describe the effects of international trade on the United States and other nations: e. how the concepts of balance of trade and balance of payments are used to measure international trade
C4: Global Economics PO 2 Describe the effects of international trade on the United States and other nations: f. factors that influence the major world patterns of economic activity including the differing costs of production between developed and developing countries
C4: Global Economics PO 2 Describe the effects of international trade on the United States and other nations: h. identify the effects of trade agreements (e.g.,North American Free Trade Agreement)
C3: Macroeconomics PO 5 Describe the functions of the Federal Reserve System (e.g., banking regulation and supervision, financial services, monetary policy) and their influences on the economy.
C3: Macroeconomics PO 1 Determine how inflation, unemployment, and gross domestic product statistics are used in policy decisions. inflation
C3: Macroeconomics PO 7 Determine how investment in factories, machinery, new technology, and the health, education, and training of people can raise future standards of living.
C5: Personal Finance PO 3 Determine short- and long-term financial goals and plans, including income, spending, saving, and investing. saving and investing
C1: Foundations PO 4 Evaluate the economic implications of current events from a variety of sources (e.g., magazine articles, newspaper articles, radio, television reports, editorials, Internet sites)
C5: Personal Finance PO 1 Explain how education, career choices, and family obligations affect future income.
C3: Macroeconomics PO 2 Explain the effects of inflation and deflation on different groups (e.g., borrowers v. lenders, fixed income/cost of living adjustments). inflation
C3: Macroeconomics PO 6 Explain the effects of monetary policy on unemployment, inflation, and economic growth. inflation
C5: Personal Finance PO 5 Explain the risk, return, and liquidity of short- and long-term saving and investment vehicles. saving and investing, liquidity
C5: Personal Finance PO 6 Identify investment options, (e.g., stocks, bonds, mutual funds) available to individuals and households.
C1: Foundations PO 5 Interpret economic information using charts, tables, graphs, equations, and diagrams.
C2: Microeconomics PO 2 PO 2. Describe how markets function: e. comparison of monopolistic and competitive behaviors