●Critical Thinking and Problem Solving: Students engage in analyzing complex economic scenarios and make informed decisions based on limited resources and multiple socio-economic goals.
● Decision Making and Ethical Leadership: The focus on trade-offs, opportunity costs, and socio-economic goals requires students to consider ethical implications and make responsible decisions that impact societies.
● Global and Cultural Awareness: Understanding how different societies make economic decisions and the impact of socio-economic goals fosters a broader awareness of global economic systems and cultural perspectives.
● Adaptability and Resilience: Examining how individuals and societies adapt to scarcity and changing economic conditions helps students develop resilience in decision-making processes.
● Economic and Financial Literacy: Students will understand economic principles like scarcity, trade-offs, and opportunity costs, enhancing their overall financial literacy.
How do limited resources and unlimited wants force individuals and societies to make choices about what to produce, how to produce it, and for whom?
2. How do individuals and societies determine the trade-offs between different goods and services, and what are the opportunity costs of these decisions in the context of limited resources?
3. How do different socio-economic goals, such as equity, effi ciency, and growth, impact decision-making in economic policy, and what trade-offs might arise between these goals?
Chart & Graph Reading.
Primary Source Analysis.
Examine Varying Perspectives.
● SS:EC:1: Economics and the Individual: Students will learn about their role in a free market, how decisions that they make affect the economy, and how changes in the economy can affect them.
● SS:EC:2: Basic Economic Concepts: Students will learn about the pillars of a free market economy and the market mechanism.
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