Social Studies Standards
Michigan Social Studies Standards as of June 2019.
Browse the glossary using this index
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HS-E1.1.3Marginal Analysis – weigh marginal benefits and marginal costs in decision making. | ||
HS-E1.2.1Institutions – describe the roles of various economic institutions and purposes they serve in a market economy. | ||
HS-E1.2.2Market Structures – identify the characteristics of perfect competition, monopolistic competition, oligopoly, and monopoly market structures. | ||
HS-E1.3.1 | ||
HS-E1.3.2Price, Equilibrium, Elasticity, and Incentives – analyze how prices change through the interaction of buyers and sellers in a market, including the role of supply, demand, equilibrium, and elasticity, and explain how incentives (monetary and non-monetary) affect choices of households and economic organizations. | ||
HS-E1.4.1Public Policy and the Market – analyze the impact of a change in public policy on consumers, producers, workers, savers, and investors. | ||
HS-E1.4.2Government and Consumers – analyze the role of government in protecting consumers and enforcing contracts (including property rights), and explain how this role influences the incentives (or disincentives) for people to produce and exchange goods and services. | ||
HS-E1.4.3 | ||
HS-E1.4.4Market Failure – explain the role for government in addressing both negative and positive externalities. | ||