SUBJECT/COURSE: Economics
Overarching
Idea
IPG: Second Six Weeks GRADE LEVEL: 12
MAJOR CONCEPT #1: System
A society uses an economic system to produce goods and services.
Guiding
Questions
Overarching
Idea
Guiding
Questions
Overarching
Idea
Guiding
Questions

In what ways does a free market system supply the needs of consumers and producers?

How does a centrally planned economic system address the question of economic equity?
 What economic goals may be sacrificed if a society pursues economic growth through increased technology?
MAJOR CONCEPT #2: Supply and Demand
In a market system, buyers’ demands affect goods and services and suppliers react to a change in price.

In what ways does market demand affect labor and banking services?

How does consu mer’s demand affect pricing?
 What role should the government play in buyers’ demands for goods and services?
MAJOR CONCEPT #3: Competition
Government intervenes to protect competition in a market economy because competition usually results in higher production and lower prices.

What factors lead one to think that a perfectly competitive market is the healthiest for consumers and suppliers?

How does government outweigh the advantage of prices set by competition?
©Austin Independent School District, 2009-2010 1

©Austin Independent School District, 2009-2010 2