SOC.7.4.A.a.1: Social Studies
SOC.7.4.A.a.2: Social Studies
SOC.7.4.A.a.3: Social Studies
Gross Domestic Product (GDP)
SOC.7.4.A.a.4: Social Studies
SOC.7.4.A.a.5: Social Studies
profit and profit motive
SOC.5-8.I.D.1: Social Studies
How does the economic problem of scarcity affect people and governments?
SOC.5-8.I.D.2: Social Studies
How do traditional, market, command, and mixed economic systems answer basic economic questions: What shall be produced? How? For whom?
SOC.5-8.I.D.3: Social Studies
How are public goods different from private goods? Why do political entities produce public goods?
SOC.5-8.I.D.4: Social Studies
What services are produced by governments at local, state, or national levels? Are all of those services public goods?
SOC.5-8.I.D.5: Social Studies
How do political entities use taxes, user fees, and government bonds to obtain the resources they need to produce services?
SOC.5-8.I.D.6: Social Studies
Why and how do governments impose regulations on businesses?
SOC.5-8.I.D.7: Social Studies
How do decisions of governments affect the economic options of households, businesses, and local communities and give rise to economic issues? How should such issues be resolved?
SOC.5-8.III.D.1: Social Studies
How do economists define demand? What factors may cause changes in the demand for a good or service? What consequences follow from changes in demand?
SOC.5-8.III.D.2: Social Studies
How do economists define supply? What factors may cause changes in the supply of a good or service? What consequences follow from changes in supply?
SOC.5-8.III.D.3: Social Studies
How do forces of supply and demand interact to determine price in market economies?
SOC.5-8.III.D.4: Social Studies
How does relative price, the price of one good or service compared to those of other goods and services, influence the behavior of consumers and producers?
SOC.5-8.III.D.5: Social Studies
What consequences result when a family or business makes a major economic decision or has a pattern of economic decisions pertaining to the use of its income, i.e., whether to use that income for consumption, saving, or investment?
SOC.5-8.III.D.6: Social Studies
How do changes in interest rates affect savings, investments, and the demand for goods and services?
SOC.5-8.III.D.7: Social Studies
What consequences result from the economic decisions of local governments?
SOC.5-8.III.D.8: Social Studies
How do economic and political events and developments affect one another?
SOC.5-8.III.D.9: Social Studies
How do events and developments in other regions and countries have economic effects on citizens of Missouri and the United States?