Social Studies - 2019-20

GOVT.14a - Economic Questions

The student will apply social science skills to understand economic systems by 

a) identifying the basic economic questions encountered by all economic systems; 

Adopted: 2015

BIG IDEAS

UNDERSTANDING THE STANDARD

Every society must answer basic economic questions.

ESSENTIALS

Basic economic questions 

 What goods and services should be produced? 

 How should they be produced? 

 For whom are they produced? 

How a society answers these questions determines the type of economy it has.

KEY VOCABULARY

Updated: May 17, 2017