Arkansas Social Studies Curriculum Framework (Grades 9-12) STRAND 3: PRODUCTION, DISTRIBUTION, AND CONSUMPTION Content Standard 1: Students will demonstrate an understanding that different economic systems and limited resources influence cooperation and conflict in decision making. PDC.1.1. Demonstrate an understanding of scarcity, choice and resource allocation. SE/TE: Chapter 1: What is Economics?, 2-21; Chapter 2: Economic Systems, 22-49; Chapter 3: American Free Enterprise, 50-73; Chapter 4: Demand, 78-99; Chapter 5: Supply, 100-123; Chapter 6: Prices, 124-149; Chapter 7: Market Structures, 150-179; Chapter 14: Taxes and Government Spending, 358-383; Chapter 15: Fiscal Policy, 386-411; Chapter 16: The Federal Reserve and Monetary Policy, 414-437; In the News: 135; Global Connections: 118 1
PDC.1.2. Describe the roles that location, supply and demand, prices, and profits play in determining what is produced and distributed in a market system. SE/TE: Chapter 4: Demand, 78-99; Chapter 5: Supply, 100-123; Chapter 6: Prices, 124-149; Chapter 7: Market Structures, 150-179; Real-Life Case Study: 19, 71, 121, 177, 205, 235, 265, 293, 381, 409, 435, 465; In the News: 5, 16, 53, 69, 87, 102, 135, 170, 175, 188, 192, 222, 252, 260, 275, 286, 314, 324, 336, 347, 362, 373, 401, 426, 433, 456, 463, 481; Debating Current Issues: 74, 180, 268, 354, 412, 498 ; Case Studies in Free Enterprise 2
PDC.1.3. Compare economic systems and how they answer economic questions as to what, how, and for whom to produce goods and services. PDC.1.4. Identify present day choices and illustrate that these choices have important future consequences. SE/TE: Chapter 2: Economic Systems, 22-49; Chapter 17: International Trade, 440-467; Chapter 18: Economic Development and Transition, 470-497; In the News: 5, 16, 37, 53, 69, 87, 102, 135, 170, 175, 188, 192, 222, 252, 260, 275, 286, 314, 324, 336, 347, 362, 373, 401, 426, 433, 456, 463, 481, 494; Debating Current Issues: 74, 180, 238, 268, 354, 412, 498; Global Connections: 9, 41, 54, 91, 118, 143, 152, 203, 225, 246, 282, 314, 335, 368, 392, 429, 452, 475 ; Case Studies in Free Enterprise SE/TE: Chapter 14: Taxes and Government Spending, 358-383; Chapter 15: Fiscal Policy, 386-411; Chapter 16: The Federal Reserve and Monetary Policy, 414-437; Chapter 17: International Trade, 440-467; Chapter 18: Economic Development and Transition, 470-497; Real- Life Case Study: 205, 235, 325, 381, 409, 465, 495; In the News: 347, 373, 401, 456; Debating Current Issues: 74, 180, 238, 268, 354, 412, 498; Global Connections: 475 ; Personal Finance Kit 3
PDC.1.5. Apply economic concepts and economic reasoning to historical and contemporary social and political development. SE/TE: Chapter 1: What is Economics?, 2-21; Chapter 2: Economic Systems, 22-49; Chapter 3: American Free Enterprise, 50-73; Chapter 4: Demand, 78-99; Chapter 5: Supply, 100-123; Chapter 6: Prices, 124-149; Chapter 7: Market Structures, 150-179; Chapter 8: Business Organizations, 184-207; Chapter 9: Labor, 210-237; Chapter 10: Money and Banking, 242-267; Chapter 11: Financial Markets, 270-295; Chapter 12: Gross Domestic Product and Growth, 300-327; Chapter 13: Economic Challenges, 330-353; Chapter 14: Taxes and Government Spending, 358-383; Chapter 15: Fiscal Policy, 386-411; Chapter 16: The Federal Reserve and Monetary Policy, 414-437; Chapter 17: International Trade, 440-467; Chapter 18: Economic Development and Transition, 470-497 4
PDC.1.6. Distinguish between domestic and international economic systems and explain how the two interact. PDC.1.7. Analyze the role of specialization in the exchange of economic goods and services. SE/TE: Chapter 2: Economic Systems, 22-49; Chapter 3: American Free Enterprise, 50-73; Chapter 17: International Trade, 440-467; Chapter 18: Economic Development and Transition, 470-497; In the News: 5, 16, 37, 53, 69, 87, 102, 135, 170, 175, 188, 192, 222, 252, 260, 275, 286, 314, 324, 336, 347, 362, 373, 401, 426, 433, 456, 463, 481, 494; Debating Current Issues: 74, 180, 238, 268, 354, 412, 498; Global Connections: 9, 41, 54, 91, 118, 143, 152, 203, 225, 246, 282, 314, 335, 368, 392, 429, 452, 475 SE/TE: specialization: 28-29, 109, 443, 446-447 5
PDC.1.8. Compare how values and beliefs influence economic decisions in different societies. PDC.1.9. Explore public issues related to resource allocation by applying techniques, such as brainstorming, data analysis, simulations, and/or scenario writing. SE/TE: Chapter 2: Economic Systems, 22-49; Chapter 3: American Free Enterprise, 50-73; Chapter 17: International Trade, 440-467; Chapter 18: Economic Development and Transition, 470-497; In the News: 5, 16, 37, 53, 69, 87, 102, 135, 170, 175, 188, 192, 222, 252, 260, 275, 286, 314, 324, 336, 347, 362, 373, 401, 426, 433, 456, 463, 481, 494; Debating Current Issues: 74, 180, 238, 268, 354, 412, 498; Global Connections: 9, 41, 54, 91, 118, 143, 152, 203, 225, 246, 282, 314, 335, 368, 392, 429, 452, 475 SE/TE: Skills for Life Graphs and Charts: 12, 45, 84, 218, 337, 394; Economics Simulation: 48, 148, 208, 296, 328, 384, 468; Chapter Assessment: 20-21, 46-47, 72-73, 98-99, 122-123, 146-147, 178-179, 206-207, 236-237, 266-267, 294-295, 326-327, 352-353, 382-383, 410-411, 436-437, 466-467, 496-497 ; Math Practice 6