Grade Level: 12
Credit: 1/2 credit Required Course
Students will demonstrate knowledge of the Free Enterprise System.
1. Identifying the 4 freedoms and how they relate to a free enterprise system.
2. Knowledge of needs and wants and be able to distinguish between the two.
3. Choices people make in society as individuals and groups.
4. Identify the 3 system; free, command & mixed.
5. Define what a market means.
6. Discuss the differences between product & resource markets.
7. Describe how a market economy answers the questions of what to produce, how to produce and for whom to produce.
8. Show how prices are used as signals by producers & consumers.
9. Explain how prices influence the what, how, and for whom to produce decisions.
10. Be able to discuss why spillover costs create problems in an economic system.
Students will learn the meaning of profits and competition as incentives to produce goods and services. Gain knowledge of the free enterprise system with respect to inflation, economic growth, and the rate of unemployment.
1. Explain what the law of supply and the law of demand mean.
2. Describe how supply and demand works together to determine the market price.
3. Explain what is meant by a change in demand and a change in supply.
4. Be able to give examples of goods that are complements and goods that are substitutes.
5. Explain how profits are computed.
6. Describe what is meant by the profit motive.
7. Explain the important role, which the entrepreneur plays in the free enterprise system.
8. Show how profits function as signals in a free enterprise system.
9. Identify the most important uses of profits.
10. Explain how society benefits from competition.
11. Identify market power and the problems that derive from it.
12. Explain what is meant by monopoly and oligopoly.
13. Explain what inflation is and how it is measured.
14. Explain the cause and effect of inflation.
15. Describe and explain growth national product.
16. Meaning of unemployment rate and why it needs to be measured.
Students will learn how money is bought and sold in markets, how the price of money is (the interest rate) is determined, and how banks and the Federal Reserve System create money in our free enterprise system.
1. Explain why barter is inefficient in a market economy.
2. Know the 3 functions of money and the 5 characteristics of good money.
3. List the types of money used in the US.
4. Define demand deposit, fiat money, debit cards and commodity money.
5. Explain compound interest and the factors of determining interest rates.
6. Explain the banking business as to how they earn money.
7. Discuss the history of the Federal Reserve System and their responsibilities.
Students will incorporate the Internet into each lesson.
1. Students will be given a famous entrepreneur to research on the Internet.
2. Students will research the background of the entrepreneur.
3. Students will list their achievements and failures.
4. Current net worth will be researched.
5. Students will follow the AUP (Acceptable User Plan) determined by the High School.
a. Return of a parental permission slip signed by parent/guardian.
Competency Goal 5
Students will create a Business Project that will be counted as their Semester Test. Students will use various computer software to create the following sections of their Business Project.
1. Create a survey asking 20 questions about a possible
business in their community.
2. Create a rationale plan for the type of business they
plan to open in their community.
3. Create a map with their new business' location. Include
5 reasons why it is a good location.
4. Create an advertisement for their new business
5. Create a projected cost for the first month of business.
Also include an inventory for the first month of business.
6. Create a speak to introduce their business to the Tribal
7. Create a design for the front of their store and a floor
plan of their projected business.