BPS District Social Studies Standards Book

SST Domains

K-12 Economics

Standard 4 Government IconEconomics

Students understand economic concepts and the characteristics of various economic systems.

SST-K_2.E Economy Domain

Exchange and Markets
National Economy

SST-3_5.E Economy Domain

Exchange and Markets
National Economy

SST-6_12.E Economy Domain

SST-6_12.E.01
Analyze the concept of scarcity when making economic decisions.
  • SST-6_12.E.01.1 Analyze the basic concepts of economic thinking.tilize fundamental prin.
  • SST-6_12.E.01.2 Describe the difference between a command/centrally planned economy and market economy.

SST-6_12.E.02
Compare and contrast how varying economic systems impact a nation and its citizens.
  • SST-6_12.E.02.1 Describe the difference between a command/centrally planned economy and market economy.

SST-6_12.E.03
Analyze how supply and demand impact the allocation of goods and services.
  • SST-6_12.E.03.1 Explain the law of supply and demand.
  • SST-6_12.E.03.2 Compare and contrast perfect and imperfect competition.
  • SST-6_12.E.03.3 Analyze the impact of the supply and demand on prices.

SST-6_12.E.04
Analyze the various institutions that drive and support the market economy.
  • SST-6_12.E.04.1 Explain the role of businesses and financial institutions in a market economy.
  • SST-6_12.E.04.2 Evaluate the role of government in a market economy.
  • SST-6_12.E.04.3 Explain the functions and role of money.

SST-6_12.E.05
Evaluate the various macroeconomic measurements available to determine an economy's size and strength.
  • SST-6_12.E.05.1 Describe various measurements of macroeconomics.

SST-6_12.E.06
Analyze how globalization has impacted various aspects of economies around the world.
  • SST-6_12.E.06.1 Describe how trade generates economic development and interdependence.
  • SST-6_12.E.06.2 Analyze the benefits and costs for individuals, producers, and governments in international trade.

SST-6_12.E.07
Evaluate the elements of responsible personal finance.
  • SST-6_12.E.07.1 Evaluate career choices and the effect on the standard of living.
  • SST-6_12.E.07.2 Evaluate the effect of taxes and other factors on income.
  • SST-6_12.E.07.3 Develop short- and long-term financial goals.
  • SST-6_12.E.07.4 Analyze the cost and benefits of different types of credit and debt; and the rights and responsibilities of borrowers.
  • SST-6_12.E.07.5 Develop strategies to avoid and manage debt effectively.