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Assessment_Guide_For_Educators_Social_Studies (Page 14)
14 Assessment Guide for Educators: Social Studies Chapter 1: Assessment Targets Economics E.a Key economic events that have shaped American government and policies E.b Relationship between political and economic freedoms E.c Fundamental Economic Concepts E.c.1 Markets E.c.2 Incentives E.c.3 Monopoly and competition E.c.4 Labor and capital E.c.5 Opportunity cost E.c.6 Profit E.c.7 Entrepreneurship E.c.8 Comparative advantage E.c.9 Specialization E.c.10 Productivity E.c.11 Interdependence E.d Microeconomics and Macroeconomics E.d.1 Supply, demand and price E.d.2 Individual choice E.d.3 Institutions E.d.4 Fiscal and monetary policy E.d.5 Regulation and costs of government policies E.d.6 Investment E.d.7 Government and market failures E.d.8 Inflation and deflation E.d.9 GDP E.d.10 Unemployment E.d.11 Tariffs E.e Consumer economics E.e.1 Types of credit E.e.2 Savings and banking E.e.3 Consumer credit laws E.f Economic causes and impacts of wars E.g Economic drivers of exploration and colonization E.h Scientific and Industrial Revolutions