Transcription of Economics - Georgia Standards
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Economics - Georgia Standards
Economics Social Studies Georgia Performance Standards Georgia Department of Education Revised 08/01/2012 Page 1 of 10 Copyright 2012 All Rights Reserved Economics The Economics course provides students with a basic foundation in the field of Economics . The course has five sections: fundamental concepts, microeconomics, macroeconomics, international Economics , and personal finance. In each area, students are introduced to major concepts and themes concerning that aspect of Economics . Fundamental economic Concepts SSEF1 The student will explain why limited productive resources and unlimited wants result in scarcity, opportunity costs, and tradeoffs for individuals, businesses, and governments. a. Define scarcity as a basic condition that exists when unlimited wants exceed limited productive resources. b. Define and give examples of productive resources (factors of production) ( , land (natural), labor (human), capital (capital goods), entrepreneurship).
Economics Social Studies Georgia Performance Standards
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