Every creature on Earth produces, distributes and consumes but humans have done it on a massive scale, in an organized way, that has greatly impacted the world. Human resources, natural resources, and manufactured resources are traded as goods and services between people in markets. The need to produce, distribute and consume fuels innovation, competition and global interactions.
- How do we get the things we want and need?
- Is the American economy fair?
- Why are some rich and some poor?
- What do Americans "owe" each other?
- How are items allocated or rationaed when scarcity exists?
I Can describe how the interaction of buyers (through demand) and sellers (through supply) determines price in a market.
I Can describe how new technologies have changed political, economic, and social interactions.
If the world were 100 people...
- Apply reasoned decision-making techniques in making choices; explain why different household or groups faced with the same alternatives might make different choices. (188.8.131.52.1)
- Describe how the interaction of buyers (through demand) and sellers (through supply) determines price in a market. (184.108.40.206.1)
- Describe profit as an incentive for an individual to take the risks associated with creating and producing new goods or starting a business in an existing market; give examples of how the pursuit of profit can lead to undesirable, as well as desirable, effects. (220.127.116.11.1)
- Identify causes of the Great Depression and factors that led to an extended period of economic collapse in the United States. (18.104.22.168.1)
- Describe the impact of the Great Depression on United States society, including ethnic and racial minorities, and how government responded to events with New Deal policies. (22.214.171.124.2)
- Outline how the United States mobilized its economic and military resources during World War II; describe the impact of the war on domestic affairs. (126.96.36.199.3)
- Explain how items are allocated or rationed when scarcity exists. (188.8.131.52.1)
- Explain the impact of the United States Industrial Revolution on the production, consumption, and distribution of goods. (184.108.40.206.1)
- Identify new technologies and innovations that transformed the United States’ economy and society; explain how they influenced political and regional development (cotton gin, power loom, steam engine, railroad) (220.127.116.11.2)
- Describe how new technologies have changed political, economic, and social interactions. (18.104.22.168.1)