AZ Standards Grade 8

Concept PO Standard Key Terms
C1: Foundations PO 3 Analyze how individuals, governments and businesses make choices based on the availability of resources. limited resources
C2: Microeconomics PO 6 Analyze how investment in physical capital (e.g., factories, medical advancements, new technologies) leads to economic growth.
C1: Foundations PO 2 Analyze how scarcity, opportunity costs, and trade-offs, influence decision-making. scarcity, opportunity cost, trade-offs
C5: Personal Finance PO 6 Analyze the costs and benefits of producing a personal budget.
C3: Macroeconomics PO 3 Analyze the government’s role in economic recovery.
C5: Personal Finance PO 5 Analyze the, advantages, disadvantages, and alternatives to consumer credit.
C1: Foundations PO 4 Apply Adam Smith’s ideas of a market economy to: a. property rights property rights, market economy
C1: Foundations PO 4 Apply Adam Smith’s ideas of a market economy to: b. freedom of enterprise market economy
C1: Foundations PO 4 Apply Adam Smith’s ideas of a market economy to: c. competition market economy, competition
C1: Foundations PO 4 Apply Adam Smith’s ideas of a market economy to: d.consumer choice market economy
C1: Foundations PO 4 Apply Adam Smith’s ideas of a market economy to: e. limited role of government market economy
C4: Global Economics PO 1 Compare how private property rights differ in market (capitalism) economies versus command (communist) economies.
C5: Personal Finance PO 7 Create a personal budget to include fixed and variable expenses.
C2: Microeconomics PO 7 Describe how competition (e.g., Microsoft/Apple, Wal-Mart/Target) affects supply and demand from the vantage point of the consumer and producer.
C2: Microeconomics PO 4 Describe how income for most people is determined by the value of the goods and services they sell.
C2: Microeconomics PO 8 Describe how market prices provide incentives to buyers and sellers. incentives
C2: Microeconomics PO 9 Describe how protection of private property rights provides incentives to conserve and improve property (e.g., resale market). incentives
C2: Microeconomics PO 5 Describe the impact of entrepreneurs (e.g., Bill Gates, Martha Stewart, Oprah Winfrey, Ted Turner Donald Trump) in the free enterprise system. entrepreneurs
C1: Foundations PO 5 Describe the impact of the availability and distribution of natural resources on an economy.
C4: Global Economics PO 3 Describe the role of the United States government in influencing international commerce in regions studied.
C5: Personal Finance PO 3 Describe the role of the stock market in personal investing.
C5: Personal Finance PO 2 Describe types of personal investments (e.g., saving accounts, stocks, mutual funds, bonds, retirement funds, land).
C5: Personal Finance PO 4 Describe various forms of credit. (e.g., personal loans, credit cards, lines of credit, mortgages, auto loans).
C1: Foundations PO 1 Explain how limited resources and unlimited human wants cause people to choose some things and give up others. limited resources, unlimited wants
C5: Personal Finance PO 1 Explain how scarcity influences personal financial choices (e.g., budgeting, saving, investing, credit). scarcity, saving and investing
C2: Microeconomics PO 2 Explain the impact of government investment in human capital: a. health (e.g., immunizations) human capital
C2: Microeconomics PO 2 Explain the impact of government investment in human capital: b. education (e.g., college grants, loans) human capital
C2: Microeconomics PO 2 Explain the impact of government investment in human capital: c. training of people (e.g., Job Corps) human capital
C2: Microeconomics PO 3 Explain the impact of government investment in physical capital (e.g., NASA, transportation).
C4: Global Economics PO 4 Identify interdependence (e.g., North American Free Trade Agreement, European Union, International Monetary Fund/ World Bank) between nations.
C5: Personal Finance PO 8 Identify the benefits of future financial planning.
C3: Macroeconomics PO 2 Identify the effects of inflation on society. inflation
C4: Global Economics PO 2 Identify the effects of trade restrictions between national and world regions.
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.
C3: Macroeconomics PO 1 Identify the organization and functions of the Federal Reserve System.