Globalization of the economy,
the explosion of population growth, technological changes
and international competition compels the student to
understand, both personally and globally, production,
distribution, and consumption of goods and services. The
student will examine and analyze economic concepts such as
basic needs versus wants, using versus saving money, and
policy-making versus decision-making.
Give examples of the various
institutions that make up economic systems such as families,
workers, banks, labor unions, government agencies, small
businesses, and large corporations.
I
Recognize that communities
around the state and world are economically interdependent.
Examine the location,
distribution, and patterns of economic activities and
settlement in Tennessee.
Tennessee History
I
Evaluate
the effects of supply and demand on business, industry, and
agriculture, including the plantation system, in Tennessee
and various regions.
A
Read and
interpret a passage about a political or economic issue
which individuals may respond to with contrasting views
(i.e., state taxes, federal taxes, slavery, and Bill of
Rights).
Recognize how Americans used credit/installment plans to
purchase consumer goods in the 1920's (i.e., vacuum
cleaners, washing machines, radios, and other home
appliances).
Analyze how environmental changes and crisis affected the
economy across the nation in the 1930's (i.e., Dust Bowl,
Black Tuesday, Great Depression, and Hoovervilles).
Explain the impact of
American ideas about progress and equality of opportunity on
the economic development and growth of the United States.
D
Explain how supply and demand affects production and
consumption in the United States.
I
Give
examples of the benefits of the free enterprise system in
the United States.
I
Describe global economic interdependence after World War II.
I
Explain how the United
States and Tennessee meet some of their needs through the
purchase of domestic and international products domestically
and internationally in today’s global economy.
A
Differentiate between needs
and wants on a personal and national level.
Describe the impact of mass production, specialization, and
division of labor on the economic growth of the United States and other regions
of the world.
D
Explain how people historically and presently earn their
living in different regions of the United States and
Tennessee.
D
Analyze how developments in transportation communication
influenced economic activities in Tennessee.
D
Explain how geographic factors influence the location of
economic activities in Tennessee.
D
Analyze the effects of immigration, migration, and limited
resources on the economic development and growth of
Tennessee and the United States.
Describe the change from hunter/gatherer economies to
economies based on animal and plant domestication.
A
Identify disadvantages and advantages of nomadic and early
farming lifestyles (i.e., shelter, food supply, and,
domestication of plants and animals).
M
Investigate the impact of trade on the economies of early
civilizations.
D
Define various types of economies and their methods of
production and consumption.
A
Recognize the importance of economic systems in the
development of early civilizations around rivers (i.e.,
Tigris and Euphrates, Huang He, Nile, and Indus).
D
Apply
economic concepts to evaluate historic developments.
D
Explain the economic impact of improved communication and
transportation.
A
Identify major trade routes (i.e., silk roads, Persian trade
routes, African trade routes, Mediterranean trade routes,
and ocean routes).
D
Appraise the relationship among scarcity of resources,
economic development, and international conflict.
M
Differentiate between needs and wants.
D
Analyze how supply and demand and change in technologies
impact the cost for goods and services.
D
Evaluate the relationship between creditors and debtors.
A
Recognize
the importance of trade in later civilizations (i.e.,
Mediterranean, Southeast Asia, India, and European).
A
Analyze how basic economic ideas influenced world events
(i.e., supply and demand lead to exploration and
colonization).
Define various types of
economies and their methods of production and consumption
(e.g., market economy, free enterprise, capitalism,
communism, and socialism).
Economy of the USA
Command Economy
D
List the major resources
and industrial and agricultural products, locally,
regionally, and globally.
Mission: Explore
Describe the
characteristics, location, and use of renewable and
nonrenewable resources.
M
Identify ways resources
are recycled.
D
Describe patterns of
resource distribution and utilization.
D
Discover the
relationship between the use, availability, and
accessibility of resources and a country’s standard of
living, including the role of technology in resource
acquisition and use.
D
Analyze issues related
to the location, availability, use, distribution, and trade
of natural resources.
Describe the role that
supply and demand, prices, incentives, and profits play in
determining what is produced and distributed in a
competitive market system.
D
Describe the differences
within economic theories such as mercantilism and
capitalism.
Interpret a diagram showing the steps of changing a resource
into a product.
D
List the major
industrial and agricultural products of Tennessee and the
United States.
D
Describe a range of
examples of the various institutions that make up economic
systems such as households, business firms, banks,
government agencies, labor unions, and corporations.
M
Analyze the impact of
economic phenomena within the free enterprise system such as
supply and demand, profit, government regulation, and world
competition on the economy of Tennessee and Early America.
D
Define various types of
economies and their methods of production and consumption.
D
Apply economic concepts
to evaluate historic and contemporary developments.
D
Explain the economic
impact of improved communication and transportation on the
world economy.
D
Analyze the impact of
national and international markets and events on the
production of goods and services in Tennessee and Early
America.
M
Define microeconomic
terms such as credit, debt, goods, services, domestic
products, imports, and exports.
D
Analyze how supply and
demand and change in technologies impact the cost for goods
and services.
A
Differentiate between credit and debt.
D
Evaluate the
relationship between creditors and debtors.
D
Explain and illustrate
how values and beliefs influence different economic
decisions related to needs and wants.
A
Differentiate between a commercial and subsistence economy.
D
Define macroeconomic
terms such as economic alignments, credit, market economy,
tariffs, closed economies, and emerging markets.
D
Generalize and evaluate
the process of governmental taxation on individuals and
businesses.
A
Identify various forms of taxation (i.e., tariffs, sales
tax, and excise tax).
D
Evaluate the domestic
and international impact of various economic agreements.
D
Compare basic economic
systems according to who determines what is produced,
distributed, and consumed.
A
Interpret a variety of economic graphs and charts with
topics (e.g., the Columbian exchange, numbers of slaves,
population of colonies, and population diversity).
D
Explain economic factors
that led to the urbanization of Tennessee and Early America.
D
Trace the development of
major industries that contributed to the urbanization of
Tennessee and Early America.
A
Recognize the economic activities of Early America (i.e.,
agriculture, industry, and service).
D
Explain the changes in
types of jobs and occupations that resulted from the
urbanization of Tennessee and Early America.
A
Recognize the factors that led to urbanization and
industrialization in Early America (i.e., religious freedom,
land ownership, and thriving market).
A
Distinguish among various economic markets found in Early
America (i.e., traditional, monopoly, oligopoly, and free
competition).
