- standard
National Economy
- 4th Grade
- Michigan Social Studies Standards
- ECONOMICS
Explain how changes in the United States economy impact levels of employment and unemployment.
- standard
Market Economy
- 4th Grade
- Michigan Social Studies Standards
- ECONOMICS
List goods and services governments provide in a market economy and explain how these goods and services are funded.
- standard
Market Economy
- 4th Grade
- Michigan Social Studies Standards
- ECONOMICS
Describe the role of money in the exchange of goods and services.
- standard
Market Economy
- 4th Grade
- Michigan Social Studies Standards
- ECONOMICS
Explain how competition among buyers results in higher prices, and competition among sellers results in lower prices.
- standard
Market Economy
- 4th Grade
- Michigan Social Studies Standards
- ECONOMICS
Explain how specialization and division of labor increase productivity.
- standard
Market Economy
- 4th Grade
- Michigan Social Studies Standards
- ECONOMICS
Explain how price affects decisions about purchasing goods and services.
- standard
Market Economy
- 4th Grade
- Michigan Social Studies Standards
- ECONOMICS
Describe how positive and negative incentives influence behavior in a market economy.
- standard
Market Economy
- 4th Grade
- Michigan Social Studies Standards
- ECONOMICS
Describe characteristics of a market economy.