Louisiana Administrative Code
Title 28 - EDUCATION
Part CXXIX - Bulletin123-Adult Education Content Standards
Chapter 11 - Social Studies
Section CXXIX-1105 - Benchmark 2-Economics
Universal Citation: LA Admin Code CXXIX-1105
Current through Register Vol. 50, No. 9, September 20, 2024
A. Adult learners employ basic economic concepts, evaluate problems, and make rational choices as a consumer, worker, and citizen.
1. Recognize that individuals and families
with limited resources make economic choices.
2. Define and apply the concept of choice by
balancing cost with benefits.
3.
Recognize and explain the relationship between producers and consumers (supply
and demand).
4. Understand that
prices in a market economy are determined by the interaction of supply and
demand.
5. Use concepts of money
management, e.g.,:
a. interest;
b. credit;
c. savings;
d. investment;
e. budget; and
f. debt.
6. Recognize and explain the role of banks
and other financial institutions in the economy.
7. Recognize that consumers and producers
make economic choices based on supply, demand, access to markets and actions of
government.
8. Recognize how
international trade links countries around the world.
9. Recognize how nations specialize and
become interdependent through trade.
10. Recognize and describe how government
policies create free or restricted trade.
11. Use tables, graphs, diagrams, and charts
of economic information to explain economic trends and patterns at the local
level.
AUTHORITY NOTE: Promulgated in accordance with R.S. 17:6(A)(10).
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