Topic:
U.S. Economy (4.4)
Grade:
7th Grade Civics
Included Standards: SS.7.E.1.2,
SS.7.E.1.3, SS.7.E.1.5, SS.7.E.2.2, SS.7.E.2.4, SS.7.E.3.1, LACC.68.RH.1.1, LACC.68.RH.1.2, LACC.68.RH.1.3,
LACC.68.RH.2.4, LACC.68.RH.2.5, LACC.68.RH.2.6, LACC.68.RH.3.7, LACC.68.RH.3.8, LACC.68.RH.3.9, LACC.68.RH.4.10,
LACC.68.WHST.1.1, LACC.68.WHST.1.2, LACC.68.WHST.2.4, LACC.68.WHST.2.5, LACC.68.WHST.2.6, LACC.68.WHST.3.7,
LACC.68.WHST.3.8, LACC.68.WHST.3.9, LACC.68.WHST.4.10
Score 4.0
In addition to Score 3.0, in-depth inferences and applications that go beyond what was taught.
Score 3.0
The student will understand how the U.S. economy is the result of millions of decisions its residents make
every day about producing, earning, saving, investing, and spending.
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Justify the role of the Federal Reserve in controlling the money supply.
Performs complex skills:
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Score 2.0
Assess the advantages and disadvantages of using credit
Evaluate the impact of competition on providing benefits to consumers
Assess the impact of trade agreements on the economy of the United States, (i.e., NAFTA)
Compare market, mixed, and planned economies
Asses how profits, incentives, and competition motivate individuals and businesses in a market economy
The student exhibits no major errors or omissions regarding the score 3.0 content.
The student

Recognizes or recalls specific terminology:
Consumer Finance Protection Bureau, credit, demand, entrepreneur, exchange rate, Federal Deposit Insurance
Corporation (FDIC), Federal Reserve, incentive, inflation, interest rate, market economy, mixed economy, money
supply, opportunity cost, planned economy, profit, scarcity, supply
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Performs basic skills:
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o
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Identify the characteristics of market, mixed, and planned economic systems
Explain supply and demand
Examine how scarcity affects economic decisions
Explain the concept of opportunity cost and choice in making economic decisions
Identify the government’s role in controlling financial institutions
Describe the banking system in the United States
Identify the correlation between the money supply and interest rates
Describe the role of the Consumer Finance Protection Bureau
Identify entrepreneurs from various social, economic, and ethnic backgrounds
Explain how international trade benefits consumers and businesses
No major errors or omissions regarding the score 2.0 content.
Score 1.0
Score 0.0
With help, I know some of 2.0 and 3.0.
Even with help, I am unable to understand.