SS.Econ3.c Economic Fluctuations and Business Cycles
SS.Econ3.c.m Define Gross Domestic Product (GDP), and compare the GDP of different nations.
SS.Econ4 Wisconsin students will evaluate government decisions and their impact on individuals, businesses, markets, and resources (Role of Government).
SS.Econ4.a Economic Systems and Allocation of Resources
SS.Econ4.a.m Compare and contrast how different economic systems (traditional, command, market, mixed) choose to allocate the production, distribution and consumption of resources (what/how/for whom is it produced).
SS.Econ4.b.m.ii Analyze rules and laws that protect and support both consumers (e.g., private property, zoning, contracts, agreements, and product safety) and workers (e.g., labor unions, regulations, minimum wage).
SS.Econ4.c Role of Government
SS.Econ4.c.m Analyze the impact of different government policies (e.g., taxation and government spending) on the economy.
SS.Econ4.d Impact of Government Interventions
SS.Econ4.d.m Analyze potential unintended costs and benefits (i.e., externalities) for a local or state law or policy.
SS.Econ5 Wisconsin students will assess economic interdependence of regions and countries through trade.
SS.Econ5.a Specialization, Trade, and Interdependence
SS.Econ5.a.m.i Summarize the role of specialization on trade and cost of goods/services.