Economics

1.	Understands that scarcity of productive resources requires choices that generate opportunity costs
2.	Understands characteristics of different economic systems, economic institutions, and economic incentives
3.	Understands the concept of prices and the interaction of supply and demand in a market economy
4.	Understands basic features of market structures and exchanges
5.	Understands unemployment, income, and income distribution in a market economy
6.	Understands the roles government plays in the United States economy
7.	Understands savings, investment, and interest rates
8.	Understands basic concepts of United States fiscal policy and monetary policy
9.	Understands how Gross Domestic Product and inflation and deflation provide indications of the state of the economy
10.	Understands basic concepts about international economics

	1.	Budgets
	2.	Competition and market structure
	3.	Currency and exchange
	4.	Debts
	5.	Economic decision-making
	6.	Economic development and growth
	7.	Economic incentives
	8.	Economic institutions
	9.	Economic systems
	10.	Entrepreneurship/Innovation
	11.	Exchange and money
	12.	Financial Institutions
	13.	Goods and services
	14.	Gross domestic product
	15.	Import/export data
	16.	Incentives
	17.	Income distribution
	18.	Inflation/deflation
	19.	Interest rate
	20.	International trade
	21.	Investment
	22.	Loan
	23.	Market failures
	24.	Markets and prices
	25.	Money supply
	26.	Opportunity costs and trade-offs
	27.	Production and consumption
	28.	Productivity
	29.	Public goods and services
	30.	Resources
	31.	Role of government
	32.	Savings
	33.	Scarcity and choice
	34.	Specialization and interdependence
	35.	Supply and demand
	36.	Taxation
	37.	U.S. fiscal policy
	38.	U.S. monetary policy
	39.	Unemployment

Mid-continent Research for Education and Learning