Standard 2: Understand the fundamental concepts relevant to the institutions, structure, and functions of a national economy.

General Information
Number: SS.912.E.2
Title: Understand the fundamental concepts relevant to the institutions, structure, and functions of a national economy.
Type: Standard
Subject: Social Studies
Grade: 912
Strand: Economics

Related Benchmarks

This cluster includes the following benchmarks.

Related Access Points

This cluster includes the following access points.

Independent

SS.912.E.2.In.a
Identify broad economic goals, such as freedom, security, and full employment.
SS.912.E.2.In.b
Identify a public policy issue that affects the student’s community and potential consequences, such as rezoning for housing and businesses or building new roads.
SS.912.E.2.In.c
Describe contributions of entrepreneurs, inventors, and other key individuals from various gender, social, and ethnic backgrounds in the development of the United States.
SS.912.E.2.In.d
Identify examples of government wage and price controls, such as minimum wage and rent control.
SS.912.E.2.In.e
Identify how investment in factories, machinery, technology, or people can impact productivity.
SS.912.E.2.In.f
Identify the purpose of natural monopolies regulated by the government, such as electricity and water.
SS.912.E.2.In.g
Identify a common impact of inflation on society.
SS.912.E.2.In.h
Identify different types of taxes, such as income, sales, and social security.
SS.912.E.2.In.i
Recognize the relationship between government spending and taxation and the economy.
SS.912.E.2.In.j
Identify a function of the Federal Reserve System, such as to control interest rates and the money supply and supervise banking institutions.
SS.912.E.2.In.k
Describe an example of the economic impact of positive and negative side effects (externalities) on the environment.
SS.912.E.2.In.l
Identify the flow of money in a local economy, including the individual and household, businesses, banks, government, and international trade.

Supported

SS.912.E.2.Su.a
Recognize a broad economic goal, such as full employment.
SS.912.E.2.Su.b
Recognize a public policy issue that affects the student’s community and a possible consequence, such as planning for new houses.
SS.912.E.2.Su.c
Identify contributions of an entrepreneur, inventor, and other key individual from various gender, social, and ethnic backgrounds in the development of the United States.
SS.912.E.2.Su.d
Recognize examples of government wage and price controls, such as minimum wage and rent control.
SS.912.E.2.Su.e
Recognize that investment in factories, machinery, technology, or people can impact productivity.
SS.912.E.2.Su.f
Recognize examples of a natural monopoly, such as electricity and water.
SS.912.E.2.Su.g
Recognize a common impact of inflation on society.
SS.912.E.2.Su.h
Recognize different types of taxes, such as income, sales, and social security.
SS.912.E.2.Su.i
Recognize that government spending and taxation affects the economy.
SS.912.E.2.Su.j
Recognize a function of the Federal Reserve System, such as to control interest rates.
SS.912.E.2.Su.k
Identify an example of the economic impact of a positive and negative side effect (externality) on the environment.
SS.912.E.2.Su.l
Recognize the movement of money in a local economy, including the individual and household, businesses, banks, and government.

Participatory

SS.912.E.2.Pa.a
Recognize a reason for employment.
SS.912.E.2.Pa.b
Recognize the value of a community project, such as recycling.
SS.912.E.2.Pa.c
Recognize an individual who has contributed to the United States.
SS.912.E.2.Pa.d
Recognize that government sets the minimum wage.
SS.912.E.2.Pa.e
Recognize that investment may increase productivity.
SS.912.E.2.Pa.f
Recognize an example of a natural monopoly, such as electricity or water.
SS.912.E.2.Pa.g
Recognize that the cost of items can increase.
SS.912.E.2.Pa.h
Recognize a tax, such as sales tax.
SS.912.E.2.Pa.i
Recognize that the government spends money.
SS.912.E.2.Pa.j
Recognize that the government controls money.
SS.912.E.2.Pa.k
Recognize a positive or negative side effect (externality) of producing goods.
SS.912.E.2.Pa.l
Recognize that money moves from buyer to seller.

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Student Resources

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Parent Resources

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