SS10.E.4

Social Studies (2010) Grade(s): 12 - Economics

SS10.E.4
Describe the role of government in a market economy, including promoting and securing competition, protecting private property rights, promoting equity, providing public goods and services, resolving externalities and other market failures, and stabilizing growth in the economy.

Unpacked Content

Knowledge

Students know:

The roles of government in a market economy.
The purpose of each of the government's roles in a market economy.
How to identify examples of the government acting in each of its roles in a market economy.
The different types of market failures.

Skills

Students are able to:

Identify the ways in which governments, including the United States government, participate in the economy.
Determine the impact of government actions in the market.

Understanding

Students understand that:

There are specific causes market failures.
Government action can sometimes correct for failures of private markets.
Government actions impact the market.

Vocabulary

positive externalities (spillover benefits)
negative externalities (spillover costs)
public goods and services
tragedy of the commons

Aligned Learning Resources

Government Regulation: Crash Course Government #47

Flying Cheap: The Crash of Continental Flight 3407

Design by Adaptive Theme