| Content |
consumer choice and elasticity |
Economics 12 |
No CCG |
| Keyword: consumer choice and elasticity |
Elaboration: marginal utility, diminishing returns, income and substitution effect, normative and rational economics, elastic and inelastic demand, determinants of price elasticity of demand, total revenue and elasticity |
|
| Content |
demand, supply, and equilibrium |
Economics 12 |
No CCG |
|
| Content |
economic efficiency and specialization |
Economics 12 |
No CCG |
| Keyword: economic efficiency |
Elaboration: invisible hand, price ceiling, price floor, consumer and producer surplus, deadweight loss, taxes and subsidies, measuring efficiency |
|
| Content |
law of diminishing returns |
Economics 12 |
No CCG |
|
| Content |
opportunity costs and sunk costs |
Economics 12 |
No CCG |
| Keyword: opportunity costs and sunk costs |
Elaboration: for example, impact of lower income taxes, “free” parking and its impact |
|
| Content |
marginal utility theory |
Economics 12 |
No CCG |
| Keyword: marginal utility theory |
Elaboration: for example, satisfaction in goods and services versus the cost |
|
| Content |
structure and operation of the Canadian economic system |
Economics 12 |
No CCG |
|
| Content |
business cycle |
Economics 12 |
No CCG |
|
| Content |
macroeconomics and microeconomics |
Economics 12 |
No CCG |
|
| Content |
the economic problem |
Economics 12 |
No CCG |
| Keyword: economic problem |
Elaboration: needs, wants, scarcity, resources, variables, production possibilities, systems, economic choices |
|
| Curricular Competency |
Examine and analyze how cultural beliefs, values, and ethical positions affect the economics of the development and use of technologies on a national and global level |
Economics 12 |
Applied Technologies |
|
| Curricular Competency |
Analyze the role and personal, interpersonal, social, and environmental impacts of technologies in societal change |
Economics 12 |
Applied Technologies |
|
| Curricular Competency |
Evaluate impacts, including unintended negative consequences, of choices made about technology use |
Economics 12 |
Applied Technologies |
|
| Curricular Competency |
Explore existing, new, and emerging tools, technologies, and systems to further support facts and findings |
Economics 12 |
Applied Technologies |
|
| Curricular Competency |
Demonstrate the ability to make responsible economic decisions as individuals and as members of society |
Economics 12 |
Applied Skills |
|