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Browse South Dakota State Standards
Courses:: Economics and Personal Finance
Standards:
1. Identify opportunity costs and trade-offs involved in making choices about how to use scarce economice resources.
2. Use a rational decision-making process as it applies to the roles of citizens, workers, and consumers.
3. Explain the importance of productivity, and discuss how specialization, division of labor, saving, investment in capital goods and human resources, and technological change affect productivity.
4. Explain why societies develop economic systems, identify the basic features of different economic systems, and discuss the major features of the U.S. economy.
5. Explain the role of core economic institutions and incentives in the U.S. economy.
6. Explain the role of exchange and money in an economic system and describe the effect of interdependence on economic activity.
7. Describe the role of markets and prices in the U.S. economy.
8. Analyze the role of the law of supply and demand in the U.S. economy.
9. Describe different types of competitive structures and illustrate the role of competitive markets in the U.S. and other economies.
10. Manage limited personal financial resources and recognize that more of the wants and needs of members of a society can be satisfied if wise consumer decisions are made.
11. Explain how the U.S. economy functions as a whole and describe macro-economic measures of economic activity such as gross domestic product, unemployment, and inflation.
12. Discuss the role of government in an economic system, especially the necessary and desirable role of government in the U.S. economy.
13. Describe rights and responsibilities of citizens in the U.S. economy, including their role in making decisions through the political process that affect the allocation of limited personal and public resources to meet individual and societal needs and wants.
14. Examine the importance of economic relationships among nations and discuss the role of international trade and investment and international monetary relations in the global economy.
15. Relate personal interests, wants, and abilities to career choices and assess how conditions in the labor market may affect career choices.
2. Use a rational decision-making process as it applies to the roles of citizens, workers, and consumers.
3. Explain the importance of productivity, and discuss how specialization, division of labor, saving, investment in capital goods and human resources, and technological change affect productivity.
4. Explain why societies develop economic systems, identify the basic features of different economic systems, and discuss the major features of the U.S. economy.
5. Explain the role of core economic institutions and incentives in the U.S. economy.
6. Explain the role of exchange and money in an economic system and describe the effect of interdependence on economic activity.
7. Describe the role of markets and prices in the U.S. economy.
8. Analyze the role of the law of supply and demand in the U.S. economy.
9. Describe different types of competitive structures and illustrate the role of competitive markets in the U.S. and other economies.
10. Manage limited personal financial resources and recognize that more of the wants and needs of members of a society can be satisfied if wise consumer decisions are made.
11. Explain how the U.S. economy functions as a whole and describe macro-economic measures of economic activity such as gross domestic product, unemployment, and inflation.
12. Discuss the role of government in an economic system, especially the necessary and desirable role of government in the U.S. economy.
13. Describe rights and responsibilities of citizens in the U.S. economy, including their role in making decisions through the political process that affect the allocation of limited personal and public resources to meet individual and societal needs and wants.
14. Examine the importance of economic relationships among nations and discuss the role of international trade and investment and international monetary relations in the global economy.
15. Relate personal interests, wants, and abilities to career choices and assess how conditions in the labor market may affect career choices.