Standard 3: Understand the fundamental concepts and interrelationships of the United States economy in the international marketplace.

General Information
Number: SS.912.E.3
Title: Understand the fundamental concepts and interrelationships of the United States economy in the international marketplace.
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.3.In.a
Identify the impact of inflation on world economies, such as oil prices and the Great Depression.
SS.912.E.3.In.b
Identify economic advantages a country may have when trading with another country, such as abundant natural resources and a cheap labor force.
SS.912.E.3.In.c
Identify examples of barriers to trade, such as quotas and tariffs.
SS.912.E.3.In.d
Identify an example of the economic impact of positive and negative side effects (externalities) on the international environment.
SS.912.E.3.In.e
Identify differences in the economies of the United States and another country, such as the standard of living and productivity.
SS.912.E.3.In.f
Identify that economics involves the study of how people and countries make decisions about the use of scarce resources in the most efficient way.

Supported

SS.912.E.3.Su.a
Recognize an impact of inflation on the economy, such as oil prices.
SS.912.E.3.Su.b
Recognize examples of economic advantages a country may have when trading with another country, such as abundant natural resources.
SS.912.E.3.Su.c
Recognize a barrier to trade, such as quotas and tariffs.
SS.912.E.3.Su.d
Recognize an example of the economic impact of a positive and negative side effect (externality) on the international environment.
SS.912.E.3.Su.e
Recognize a characteristic of another country’s economy, such as the standard of living.
SS.912.E.3.Su.f
Recognize that economics involves the study of how people and countries make decisions about the use of scarce resources in the most efficient way.

Participatory

SS.912.E.3.Pa.a
Recognize that costs of goods and services change over time.
SS.912.E.3.Pa.b
Recognize the advantage of a trade.
SS.912.E.3.Pa.c
Recognize a disadvantage (barrier) of a trade.
SS.912.E.3.Pa.d
Recognize a positive or negative side effect (externality) of producing goods in the international environment.
SS.912.E.3.Pa.e
Recognize an economic characteristic of daily living, such as the cost of housing.
SS.912.E.3.Pa.f
Recognize that people study the economy.

Related Resources

Vetted resources educators can use to teach the concepts and skills in this topic.

Student Resources

Vetted resources students can use to learn the concepts and skills in this topic.

Parent Resources

Vetted resources caregivers can use to help students learn the concepts and skills in this topic.