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Showing 16 of 500 standards
The interaction of supply and demand, influenced by competition, helps to determine price in a market. This interaction also determines the quantities of outputs produced and the quantities of productive resources (entrepreneurship, human resources, natural resources and capital) used.
Different economic systems (traditional, market, command, and mixed) utilize different methods to allocate limited resources.
Markets exist when consumers and producers interact. When supply or demand changes, market prices adjust. Those adjustments send signals and provide incentives to consumers and producers to change their own decisions.
Understand that the Federal Reserve System works to maintain economic stability. For instance, keeping prices from rising or falling too fast or making sure banks have enough money to pay their customers During the Great Depression many banks did not have enough money on hand.
The U.S. Constitution established a federal republic, providing a framework for a national government with elected representatives, separation of powers, and checks and balances.
Explain ways the different people/groups in government can limit each other’s powers (e.g., checks and balances).
The Great Depression was caused, in part, by the federal government's monetary policies, stock market speculation, and increasing consumer debt. The role of the federal government expanded as a result of the Great Depression.
Given an event, explain how it creates a dynamic interaction among the three branches of government (e.g., checks and balances).
Explain a political process that creates a dynamic interaction between the three branches of government (e.g., checks and balances).
Define civil rights as rights protected by the U.S. Constitution. Civil rights include the right to vote and other opportunities for civic participation.
The Federal Reserve System uses monetary tools to regulate the nation’s money supply and moderate the effects of expansion and contraction in the economy
Explain the purpose of the Federal Reserve (e.g., who, what, where, and how it works; what it does).
Identify the three main functions of the Federal Reserve.
Match the Federal Reserve with its purpose.
When regions and nations use comparative advantage to produce at the lowest cost and then trade with others, production, consumption and interdependence increase.
The availability of productive resources (i.e., entrepreneurship, human resources, capital goods and natural resources) promotes specialization that could lead to trade.