SS6E5 The student will analyze different economic systems.
- Compare how traditional, command and market economies answer the economic questions of 1 -what to produce, 2-how to produce, and 3-for whom to produce.
- Explain how most countries have a mixed economy located on a continuum between pure and market and pure command.
- Compare the basic types of economic systems found in the United Kingdom, Germany, and Russia.
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SS6E6 The student will analyze the benefits of and barriers to voluntary trade in Europe.
- Compare and contrast different types of trade barriers such as tariffs, quotas, and embargos.
- Explain why international trade requires a system for exchanging currencies between nations.
SS6E7 The student will describe factors that influence economic growth and examine their presence or absence in Europe.
- Explain the relationship between investment in human capital (education and training) and gross domestic product (GDP).
- Explain the relationship between investment in capital (factories, machinery, and technology) and gross domestic product (GDP).
- Describe the role of natural resources in a country’s economy.
- Describe the role of entrepreneurship
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S6G11 The student will describe the cultural characteristics of Europe.
- Explain how the literacy rate affects the standard of living in Europe.
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