Social Studies Standard VI, Economics
Lesson 610, Economic Systems
Knowing how to define economics
Understanding the characteristics of traditional, command, market, and mixed economic systems
Understanding market economies, command economies, and developing economies
Understanding how different economies meet basic wants and needs over time
Understanding strengths and weaknesses of the market economy with other economic models, using broad societal goals such as freedom, equity, security, employment, stability, and economic growth
Understanding a mixed economy
Understanding the United States economy
Understanding the five basic principles of free enterprise