Social Studies Standards
Michigan Social Studies Standards as of June 2019.
Browse the glossary using this index
Special | A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | ALL
Impact of Transitional Economies – analyze the impact of transitional economies, such as in China and India, on the global economy in general and the American economy in particular.
Absolute and Comparative Advantage – use the concepts of absolute and comparative advantages to explain why goods and services are produced in one nation or locale versus another.
Domestic Activity and World Trade – assess the impact of trade policies, monetary policy, exchange rates, and interest rates on domestic activity and world trade.
Exchange Rate and World Trade – analyze the effects on trade from a change in an exchange rate between two currencies.
The Global Economy and the Marketplace – analyze and describe how the global economy has changed the interaction of buyers and sellers.
Buying Goods And Services – describe the factors that consumers may consider when purchasing a good or service, including the costs, benefits, and the role of government in obtaining the information.
Saving – identify the incentives people have to set aside income for future consumption, and evaluate the impact of time, interest rates, and inflation upon the value of savings.
Using Credit – evaluate the benefits, costs, and potential impacts of using credit to purchase goods and services.
Financial Investing – analyze the risks, expected rate of return, tax benefits, impact of inflation, role of government agencies, and importance of diversification when investing in financial assests.