Market Structures

Understand fundamental ideas like scarcity, opportunity cost, incentives, supply, and demand.

Analyze how the interaction of supply and demand determines prices and quantities in a market.

Compare various ways societies organize production and distribution, including capitalism, socialism, and mixed economies.

Understand key measures of a country's economic performance, such as GDP, inflation, and unemployment.

Examine the role of government in the economy and its use of taxing and spending (fiscal policy) to influence economic activity.

Learn about the functions of money, the banking system, and how central banks use monetary policy to manage the economy.

Explore the benefits and challenges of trade between countries, including concepts like specialization and protectionism.

Develop skills in managing personal money, including budgeting, saving, investing, and understanding credit.