Social Studies Scope and Sequence, Economic Systems

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


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