SS10.E.7

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

Students know:

The advantages and disadvantages of the three major forms of business organization.
The characteristics of each type of competition.
How oligopolies are formed.
The different types of monopoly.
The meaning of the profit motive and how it impacts production decisions.
How businesses invest using equity financing, borrowing and saving.
The advantages and disadvantages of each method of raising money for investment.
How businesses compete through pricing and marketing.
The different types of economic institutions and their goals.

Students are able to:

Identify the characteristics of the basic forms of business organization and determine the appropriate form of organization for different situations.
Identify and construct a perfectly competitive market graph (supply and demand graph).
Calculate examples of diminishing returns.
Draw short run and long run ATC curves.

Students understand that:

Different forms of business organization may be appropriate depending on the type of good or service to be produced.
Different methods of raising money for investment are appropriate depending on the goals of the business.
There are many ways in which businesses compete depend on the type of industry structure.
The actions of economic institutions impact market outcomes.