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© 2005 by Elkhorn Public Schools and Scantron Corporation.
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Elkhorn Public Schools
Business Curriculum
Vocational Education - Economics

Personal and Business Services Online
Voluntary Exchange
The learner will be able to explain how voluntary exchange and markets help organize production and distribute goods and services.
Strand Scope Source
What is Economics? Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Economics
The learner will be able to define economics as the study of people producing and exchanging to get the goods and services they want.
Strand Scope Source
What is Economics? Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Productive Resources
The learner will be able to list examples of the three principal types of productive resources.
Strand Scope Source
What is Economics? Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Marginal Costs and Benefits
The learner will be able to explain the concepts of marginal cost and benefit and their influence on individual and business decision-making.
Strand Scope Source
What is Economics? Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Trade Offs
The learner will be able to identify examples of trade-offs.
Strand Scope Source
What is Economics? Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Basic Economic Questions
The learner will be able to list the basic economic questions facing all societies.
Strand Scope Source
What is Economics? Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Pillars of Free Enterprise System
The learner will be able to explain why private property, the price system, market competition, and entrepreneurship are pillars of free enterprise.
Strand Scope Source
Free Enterprise In The United States Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Traditional, command and market economy
The learner will be able to compare how traditional, command, and market economies allocate resources to produce and distribute goods and services.
Strand Scope Source
Free Enterprise In The United States Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Circular Flow Model
The learner will be able to describe how voluntary exchange between households and businesses create a circular flow of money, products, and resources.
Strand Scope Source
Free Enterprise In The United States Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Exchange
The learner will be able to explain how money facilitates exchange, and list the three basic functions money preforms.
Strand Scope Source
Free Enterprise In The United States Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Entrepreneurship
The learner will be able to describe the contribution entrepreneurship makes to an economy's growth over time.
Strand Scope Source
Free Enterprise In The United States Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Demand
The learner will be able to define demand as the various quantities of something a person is willing and able to buy at different prices at a particular time.
Strand Scope Source
Demand Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Price Effect
The learner will be able to describe the price effect; i.e., explain why people buy more of something at lower prices and less at higher prices.
Strand Scope Source
Demand Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Market Demand
The learner will be able to describe the relationship between individual demands and market demand.
Strand Scope Source
Demand Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Price Elasticity of Demand
The learner will be able to define price elasticity of demand and list the factors that influence elasticity.
Strand Scope Source
Demand Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Difference in Demand
The learner will be able to explain the difference between the price effect and a change in demand.
Strand Scope Source
Demand Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Supply
The learner will be able to define supply as the various quantities of a good or service producers offer for sale at different prices at a particular time.
Strand Scope Source
Supply Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Price Effect on supply
The learner will be able to describe the price effect on supply; i.e., explain why producers offer more of a product for sale at higher prices than at lower prices.
Strand Scope Source
Supply Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Market Supply
The learner will be able to explain how individual suppliers combine to produce market supply.
Strand Scope Source
Supply Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Price Elasticity of Supply
The learner will be able to define price elasticity of supply and list factors that influence it.
Strand Scope Source
Supply Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Change in Supply
The learner will be able to describe factos that cause a change in supply.
Strand Scope Source
Supply Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Market Clearing Price
The learner will be able to describe how supply and demand interact to establish a market clearing price.
Strand Scope Source
Market Clearing Price Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Shortage and Surplus
The learner will be able to define shortages and surpluses, and explain how market competition eliminates them.
Strand Scope Source
Market Clearing Price Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Ration
The learner will be able to explain how market clearing prices ration goods and services.
Strand Scope Source
Market Clearing Price Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Change in supply and demand
The learner will be able to describe how changes in demand and supply result in change in market clearing prices.
Strand Scope Source
Market Clearing Price Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Information and Incentives
The learner will be able to explain how market clearing prices provide important information and incentives to consumers and producers.
Strand Scope Source
Market Clearing Price Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
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Businesses and Their Resources
Wealth and Work
The learner will be able to identify wealth and work as two main sources of income for individuals.
Strand Scope Source
Consumers, Savers, and Investors Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.7
  
Budgets
The learner will be able to describe how personal budgets help consumers and savers make wise choices.
Strand Scope Source
Consumers, Savers, and Investors Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.7
  
Savings Options
The learner will be able to describe savings options individuals can use to make their wealth grow.
Strand Scope Source
Consumers, Savers, and Investors Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.7
  
Credit
The learner will be able to list the advantages and disadvantages of using credit.
Strand Scope Source
Consumers, Savers, and Investors Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.7
  
Insurance
The learner will be able to explain the purpose of insurance and describe how it helps budget for emergencies.
Strand Scope Source
Consumers, Savers, and Investors Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.7
  
Legal and Economic Institutions
The learner will be able to describe legal and economic institutions in our free enterprise economy that protect consumers' interests.
Strand Scope Source
Consumers, Savers, and Investors Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.16
  
Free Enterprise
The learner will be able to describe how free enterprise encourages entrepreneurship.
Strand Scope Source
The Business of Free Enterprise Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.16
  
Entrepreneurship Rewards
The learner will be able to list the challenges and rewards of entrepreneurship.
Strand Scope Source
The Business of Free Enterprise Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.16
  
Small Business
The learner will be able to describe the role of small business in the US economy.
Strand Scope Source
The Business of Free Enterprise Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.16
  
Business Types
The learner will be able to list the advantages and disadvantages of sole propietorships, partnerships, and corporations.
Strand Scope Source
The Business of Free Enterprise Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.16
  
Large Corporation
The learner will be able to explain how large corporations are organized and define the roles and responsibilities of stockholders, boards of directors, and managers in a corporation.
Strand Scope Source
The Business of Free Enterprise Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.7
  
Financial Market
The learner will be able to explain how financial markets help businesses obtain capital resources.
Strand Scope Source
Financing A Business Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.7
  
Credit
The learner will be able to describe different sources of long term and short term credit available to businesses.
Strand Scope Source
Financing A Business Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.16
  
Equity
The learner will be able to define equity and compare equity financing to borrowing.
Strand Scope Source
Financing A Business Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.16
  
Retained Earnings
The learner will be able to define retained earnings, and explain who they are used to finance growth.
Strand Scope Source
Financing A Business Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 12.6
  
Stock Market
The learner will be able to describe the primary and secondary stock markets and explain their importance to economic growth.
Strand Scope Source
Financing A Business Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 12.6
  
Common/Preferred Stock
The learner will be able to compare common and preferred stock.
Strand Scope Source
Financing A Business Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Accounting
The learner will be able to describe the principal functions and entries on balance sheets and income statements.
Strand Scope Source
Financing A Business Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 12.14
  
Gross Domestic Product
The learner will be able to define Gross Domestic Product and explain how it is measured.
Strand Scope Source
Production and Productivity Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Living Standards
The learner will be able to describe how changes in gross domestic product affect living standards.
Strand Scope Source
Production and Productivity Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 12.6
  
Productivity
The learner will be able to explain the relationship between productivity and living standards.
Strand Scope Source
Production and Productivity Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 12.6
  
Determinants of Productivity
The learner will be able to describe the principal determinants of productivity-the labor, management, and technology.
Strand Scope Source
Production and Productivity Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 12.6
  
Business Strategies
The learner will be able to describe strategies business managers use to improve productivity.
Strand Scope Source
Production and Productivity Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 12.6
  
Fixed and Variable Costs
The learner will be able to define fixed and variable costs.
Strand Scope Source
Production and Productivity Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 12.6
  
Economies of Scale
The learner will be able to define economies of scale and the law of diminishing returns.
Strand Scope Source
Production and Productivity Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 12.6
  
Labor Productivity
The learner will be able to explain how growing labor productivity enables businesses and workers to earn more over time while providing consumers with better and lower-priced products.
Strand Scope Source
the US Labor Force Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 12.6
  
Wage Determination
The learner will be able to apply the principles of supply and demand to wage determination.
Strand Scope Source
the US Labor Force Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 12.6
  
US Labor Force
The learner will be able to describe how major changes in the US labor force have occurred in the last 50 years.
Strand Scope Source
the US Labor Force Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Human Resource Development
The learner will be able to describe how and why investment in human resource development impacts labor productivity.
Strand Scope Source
the US Labor Force Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Unions
The learner will be able to describe the development of unions in the United States and the impact of legislation on the labor movement.
Strand Scope Source
the US Labor Force Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Labor Management Relations
The learner will be able to describe how labor-management relations have changed over the years.
Strand Scope Source
the US Labor Force Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Market
The learner will be able to describe the nature and role of competition in a market competition.
Strand Scope Source
How businesses Compete Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Price Takers
The learner will be able to define price takers and price searches and give an example of each.
Strand Scope Source
How businesses Compete Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 8.5
  
Market Structures
The learner will be able to list the principal characteristics of pure price competition, monopolistic competition, oligopoly, and monopoly.
Strand Scope Source
How businesses Compete Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 12.16
  
Marketing
The learner will be able to define market and describe the role of market in a competitive free enterprise economy.
Strand Scope Source
How businesses Compete Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 12.19
  
Four Ps of Marketing
The learner will be able to describe the "four Ps of marketing"; product, price, promotion, place.
Strand Scope Source
How businesses Compete Introduce Elkhorn Public Schools(a) and Nebraska Links to Learns BE 12.19
  
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