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Content
Indicators > Social
Studies > Economics > 12th Grade
11-12 Grades: Social Studies Benchmarks for Economics
A. Analyze how scarcity of productive resources
affects supply, demand, inflation, and economic choices.
B. Identify factors which inhibit or spur economic growth and
cause expansions or recessions.
C. Explain how voluntary worldwide trade, specialization, and
interdependence among countries affect standards of living and economic
growth.
D. Analyze the role of fiscal and regulatory policies in a mixed economy.
E. Explain the use of a budget in making personal economic
decisions and planning for the future.
Economics (Scarcity
And Resource Allocation)
12th Grade:
1. Compare how values and beliefs influence economic decisions in different communities.
2. Explain the impact of marginal cost/marginal benefit analysis on decision-making.
3. Select a current issue; identify the costs and benefits of
various choices to determine the impact of personal and social economic
decisions on the allocation of productive resources.
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Campus Martius:
Migration Walk (262 k)
Students will learn of the waves of migration that shaped Ohio's history.
Economics (Production,
Distribution, & Consumption)
12th Grade:
4. Use circular flow model to explain the flow of money, goods,
services, and productive resources in the economy.
Economics (Markets)
12th Grade:
5. Identify reasons for the impacts of multinational economic
organizations:
 a. Organization of the Petroleum Exporting Countries
(OPEC);
b. European Monetary Union;
c. North American Free Trade
Agreement (NAFTA);
d. World Trade Organization (WTO);
e. World Bank.
Economics (Government
And the Economy)
12th Grade:
6. Analyze economic policy decisions made by governments that
have resulted in intended and unintended consequences.
7. Identify public policies that may cost more than the benefits
they generate, assess who enjoys the benefits, who bears the cost, and
explain why the policies exist.
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