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Categories:: 6.5.9. Work and Earnings
Statements:
A. Define wages and explain how wages are determined by the supply of and demand for workers.
B. Describe how productivity is measured and identify ways in which a person can improve his or her productivity.
D. Analyze how risks influence business decision-making.
E. Define wealth and describe its distribution within and among the political divisions of the United States.
F. Identify leading entrepreneurs in Pennsylvania and the United States and describe the risks they took and the rewards they received.
G. Explain the differences among stocks, bonds and mutual funds.
H. Explain the impact of higher or lower interest rates for savers, borrowers, consumers and producers.
C. Identify and explain the characteristics of the three types of businesses.