WorldView Software. Economics. West Virginia Correlation Document

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1 WorldView Software Economics West Virginia Correlation Document 76 North Broadway, Suite 2002, Hicksville, NY

2 West Virginia Economics Standards Economics WorldView Software Correlation Document Grade 12 Objectives Examples Location Comments SS.S.EE Students will analyze the role of economic choices in scarcity, supply and demand, resource allocation, decision-making, voluntary exchange and trade-offs (Choices). research, critique and evaluate the roles of private and public institutions in the economy (Institutions). compare and contrast various economic systems and analyze their impact on individual citizens (Economic Systems). describe and demonstrate how the factors of production apply to the United States economic system (Factors of Production). analyze the elements of competition and how they impact the economy (Competition). examine and evaluate the interdependence of global economies (Global Economies). then Chapter title, then "Overview." Overviews can also be accessed by clicking Resources icon, "Overviews" then the title(s) you want to view.

3 SS.EE.1 - Students will explain and give examples showing how scarcity of goods and services forces people to make choices about needs and wants. Chapter 1: Economics: The Science of Scarcity Resources: - Case Study: Money Management - Essay: Economic Decisions then Chapter 1, then "Overview." Overviews can also be accessed by clicking Resources icon, "Overviews," the title you want to view, then the "Read Overview" button on the bottom of the screen. SS.EE.2 - Students will analyze how the scarcity of natural, technological, capital and human resources requires economic systems to make choices about the distribution of goods and services. - Internet Project: Economic Systems and Scarcity then Chapter 2, then "Overview" or "Internet Project." Hover over "Internet Project" and select the title to the right. "Overviews" and "Internet Projects" can also be accessed by clicking Resources icon, "Overviews" or "Internet Projects" and the title you want to view, then the "Read Overview" or "Start Project" button on the bottom of the screen. SS.EE.3 - Students will explain the role supply and demand, prices, incentives and profits play in determining what is produced and distributed in a free enterprise system. Chapter 3: Markets and International Trade Resources: - Essay: Prices and Markets - Internet Project: Supply, Demand, and Price Chapter 3, then "Overview." Click Resources icon, "Essays" or "Internet Projects" and the title you want to view, then click the "Write Essay" or "Start Project" button on the bottom of the screen.

4 SS.EE.4 - Students will explain and give examples of opportunity costs (trade-offs) and scarcity, and analyze how these concepts are the basis of other concepts in economics. Chapter 1: Economics: The Science of Scarcity Chapter 1, then "Overview." SS.EE.5 - Students will compare and contrast examples of private and public goods and services. SS.EE.6 - Students will evaluate the costs and benefits of allocating goods and services through public and private means. Chapter 2, then "Overview." SS.EE.7 - Students will describe and compare relationships among economic institutions (e.g., households, businesses, banks, government agencies and labor unions). Chapter 6: Financial Intermediaries Chapter 6, then "Overview." SS.EE.8 - Students will explain how specialization and division of labor in economic systems increase productivity. SS.EE.9 - Students will describe the role of money and other forms of exchange in the economic process. - Essay: Labor Chapter 5: Money and Banking - Essay: Money Chapter 2, then "Overview." Click on Resources icon, "Essays," "Labor," then the "Write Essay" button. Chapter 5, then "Overview" or "Essay". Hover over "Essay" and click on the title to the right. SS.EE.10 - Students will compare and analyze how values and beliefs influence economic decisions in different economic systems. - Essay: Economic Decisions

5 SS.EE.11 - Students will evaluate economic systems according to how laws, rules and procedures deal with demand, supply and prices. Chapter 4: Supply, Demand, and Competition - Essay: Economic Systems Chapter 4, then "Overview." Click on Resources icon, "Essays," "Economic Systems," then the "Write Essay" button. SS.EE.12 - Students will evaluate historical and current social developments and issues from an economic perspective. SS.EE.13 - Students will explain historical and current developments and issues in local, national and global contexts from an economic perspective. SS.EE.14 - Students will define inflation and explain its effects on economic systems. Resources: - Chronology - Case Study: Reagan Budget Deficits - Document: Bryan Cross of Gold Speech - Document: Nader's Testimony Resources: - Chronology - Case Study: Reagan Budget Deficits - Document: Communist Manifesto - Document: Social Security Act of 1935 Chapter 5: Money and Banking - Glossary: "inflation" Click Resources icon, then "Chronology," "Case Studies," or "Documents." For Case Studies and Documents, click either "Begin Case Study" or "Read Overview" button. Chapter 5, then "Overview" or "Glossary"; or click Resources icon, "Overviews" or "Glossaries" and choose the "Master Glossary" for the term "inflation" SS.EE.15 - Students will define and analyze the use of fiscal and monetary policy in the national economic system. Chapter 10: Business Cycles and Government Policies SS.EE.16 - Students will explain the process of international trade from an economic perspective. Chapter 3: Markets and International Trade

6 SS.EE.17 - Students will analyze and evaluate growth and stability in different economic systems. SS.EE.18 - Students will analyze a public issue from an economic perspective and propose a socially desirable solution. - Project: Environmental Impact Statements Click Resources icon, "Projects" then click the "Start Project" button. SS.EE.19 - Students will evaluate the role of the factors of production in a market economy. Chapter 8: Entrepreneurship and Economic Growth SS.EE.20 - Students will compare, contrast and evaluate different types of economies (traditional, command, market, mixed). SS.EE.21 - Students will explain how and why people who start new businesses take risks to provide goods and services. Chapter 8: Entrepreneurship and Economic Growth SS.EE.22 - Students will identify, define and explain basic economic concepts (e.g., opportunity costs, scarcity, supply, demand, production, exchange and consumption, labor, wages, and capital, inflation and deflation, market economy and command economy, public and private goods and services). SS.EE.23 - Students will describe and explain the role of money, banking, savings and budgeting in everyday life. Master Glossary: - opportunity cost - scarcity (scarce) - supply - demand - consumption - wage - capital - inflation - deflation - market economy - command economy - public goods and services - private property Chapter 5: Money and Banking Click Resources icon, "Glossaries" then "Master Glossary"

7 SS.EE.24 - Students will distinguish between private goods and services (e.g., the family car or a local restaurant) and public goods and services (e.g., the interstate highway system or the United States Postal Service). - Project: Costs and Benefits of Private Property Click Resources icon, "Projects," "Costs and Benefits of Private Property," then the "Start Project" button. SS.EE.25 - Students will compare and contrast how values and beliefs, such as economic freedom, economic efficiency, equity, full employment, price stability, security and growth influence decisions in different economic situations. - Project: Decision-Making SS.EE.26 - Students will explain the basic characteristics of international trade, including absolute and comparative advantage, barriers to trade, exchange rates, and balance of trade. SS.EE.27 - Students will describe and explain global economic interdependence and competition, using examples to illustrate their influence on national and international policies. Chapter 3: Markets and International Trade - Case Study: Free Trade Chapter 4: Supply, Demand, and Competition Click Chapters icon, Chapter 3, then "Overview." Click Resources icon, "Case Studies," "Free Trade," then the "Begin Case Study" button. SS.EE.28 - Students will evaluate long term and short term cost in relationship to long and short-term benefits. Chapter 1: Economics: The Science of Scarcity SS.EE.29 - Students will identify different economic goals and the tradeoffs that must be made between economic and social goals. Chapter 11: The Individual Consumer

8 SS.EE.30 - Students will describe the aims of government fiscal policies (taxation, borrowing and spending) and their influence on production, employment and price levels. Chapter 9: The Government in a Mostly Market Economy - Case Study: Contracting the Money Supply Click Chapters icon, Chapter 9, then "Overview." Click Resources icon, "Case Studies," "Contracting the Money Supply," then the "Begin Case Study" button. SS.EE.31 - Students will explain the basic principles of the U.S. free enterprise system (e.g., opportunity costs, scarcity, profit motive, voluntary exchange, private property rights and competition). SS.EE.32 - Students will explain the characteristics, advantages and disadvantages of sole proprietorships, partnerships and corporations. Chapter 5: Money and Banking Chapter 7: Business and Labor SS.EE.33 - Students will describe Chapter 4: Supply, Demand, and Competition characteristics and give examples of pure competition, monopolistic competition and oligopolistic competition. SS.EE.34 - Students will analyze the factors involved in the process of acquiring consumer goods and services including credit, interest and insurance. Chapter 11: The Individual Consumer - Case Study: Insurance

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