La. Admin. Code tit. 28 § LXXI-511

Current through Register Vol. 50, No. 9, September 20, 2024

Section LXXI-511 - Strand 3.0: Economic Foundations

A. Standard 3.1-Understand basic economic concepts.

Benchmarks	Academic Cross-References	Louisiana Foundation Skills	SCANS Skills
1. Distinguish between economic goods and services. 2. Explain the concept of economic resources. 3. Describe the nature of economics and economic activities. 4. Analyze forms of economic utility. 5. Explain the principles of supply and demand. 6. Examine the concept of price.	ELA 1-3, 4, 5 2-1, 2, 3, 4, 6 3-1, 2, 3 4-1, 2, 3, 4, 5, 6 5-1, 2, 3, 4, 5, 6 7-1,2, 4 Science SE-B-1, 2, 3, 4, 5, 6 SE-C-1, 2 SE-D-1, 2, 4, 5, 6 Math N-1, 2, 3, 4, 5, 7 D-6, 7, 8 Social Studies G-1C-5, 6 G-1D-1, 2, 4 E-1A-1, 2 E-1B-1, 2 E-1C-2	1, 2, 3, 4, 5	Competencies Resources Information Interpersonal Skills Systems Foundations Basic Skills Thinking Skills Personal Qualities

B. Standard 3.2-Examine the characteristics of economic systems.

Benchmarks	Academic Cross-References	Louisiana Foundation Skills	SCANS Skills
1. Compare the types of economic systems. 2. Discuss the basic economic freedoms. 3. Assess the relationship between government and business. 4. Examine the concept of private enterprise. 5. Analyze the concept of productivity. 6. Explain the concept of organized labor and business. 7. Discuss the law of diminishing returns.	ELA 1-3, 4, 5 2-1, 2, 3, 4, 6 3-1, 2, 3 4-1, 2, 3, 4, 5, 6 5-1, 2, 3, 4, 5, 6 7-1,2, 4 Science SE-B-1, 2, 5 SE-D-1 Math N-1, 2, 3, 4, 5, 6, 7 D-6, 7, 8 Social Studies C-1B-6 C-1D-1, 2 E-1A-1, 4, 5, 6 E-1B-2, 3 E-1C-2, 4	1, 2, 3, 4, 5	Competencies Resources Information Interpersonal Skills Systems Technology Foundations Basic Skills Thinking Skills Personal Qualities

C. Standard 3.3-Examine economic indicators and trends.

Benchmarks	Academic Cross-References	Louisiana Foundation Skills	SCANS Skills
1. Analyze the goals of a healthy economy. 2. Explain the nature of the Consumer Price Index. 3. Explain the concept of Gross Domestic Product. 4. Explain the impact of unemployment. 5. Compute the standard of living.	ELA 1-3, 4, 5 2-1, 2, 3, 4, 6 3-1, 2, 3 4-1, 2, 3, 4, 5, 6 5-1, 2, 3, 4, 5, 6 7-1,2, 4 Science SE-B-1, 2, 5 SE-C-2, 3, 4, 5 SE-D-1, 6 Math N-1, 2, 3, 4, 5, 6, 7 D-6, 7, 8 Social Studies E-1A-1, 2, 7 E-1B-2, 3 E-1C-1, 2, 3, 4	1, 2, 3, 4, 5	Competencies Resources Information Interpersonal Skills Systems Technology Foundations Basic Skills Thinking Skills Personal Qualities

D. Standard 3.4-Examine global economics.

Benchmarks	Academic Cross-References	Louisiana Foundation Skills	SCANS Skills
1. Explain the nature of international trade. 2. Identify the impact of cultural and social environments on world trade.	ELA 1-3, 4, 5 2-1, 2, 3, 4, 6 3-1, 2, 3 4-1, 2, 3, 4, 5, 6 5-1, 2, 3, 4, 5, 6 7-1,2, 4 Science SE-B-3, 5 Social Studies C-1C-1, 2, 3 E-1A-1, 2, 5, 8 E-1B-2, 3, 4, 5, 6 E-1C-2, 4 H-1C-15	1, 2, 3, 4, 5	Competencies Resources Information Interpersonal Skills Systems Technology Foundations Basic Skills Thinking Skills Personal Qualities

La. Admin. Code tit. 28, § LXXI-511

Promulgated by the Board of Elementary and Secondary Education, LR 29:2685 (December 2003).

AUTHORITY NOTE: Promulgated in accordance with R.S. 17:6(A)(10) and R.S. 17:10.