05+Econmics

**05 Economics**
Objective 1: **Explore the relationship and impact of economics on business. Indicators:**
 * Standard 5: Students will examine workplace tasks and concepts in Economics.**
 * 1) Define scarcity and the problems it presents.
 * 2) Identify situations where scarcity exists.
 * 3) Explore optimal ways to organize limited resources to meet unlimited wants and needs.
 * 4) Give examples of how a business such as a mall, bank, law firm, etc. must deal with scarcity.
 * 5) Explore related career Pathways.

Objective 2: **Explore the relationship and impact of economics on families and consumers. Indicators:**
 * 1) Give examples of economic resources (natural, human, and capital).
 * 2) Demonstrate how economic resources (natural, human, and capital) are used to produce goods and services.
 * 3) Identify different businesses and the resources they use to produce their goods and services.
 * 4) Explore related career Pathways.

Objective 3: **Explore the relationship and impact of economics on technology. Indicators:**
 * 1) Recognize that choices have costs and benefits.
 * 2) Give examples of costs and of benefits.
 * 3) Apply cost/benefit analysis to decision making.
 * 4) Analyze the consequences of choices.
 * 5) Explain how cost/benefit analysis can be applied to business decisions.
 * 6) Explore related career Pathways.