Economic Foundations & Market Decisions — Chapter overview · Government, Civic Participation & Economics, Grade 12
5 focused units, followed by an evidence workshop, chapter review, and chapter quiz.
Chapter question
How do scarcity, incentives, and institutions shape choices and their consequences?
Units in this chapter
- Unit 5.1 · Scarcity, Opportunity Cost & Decisions at the Margin
I can define the feasible alternatives.
- Unit 5.2 · Supply, Demand, Equilibrium & Market Changes
I can read a schedule with price and quantity.
- Unit 5.3 · Firms, Competition, Market Power & Profit
I can calculate revenue, cost, and profit.
- Unit 5.4 · Production, Entrepreneurship & Economic Institutions
I can distinguish production inputs.
- Unit 5.5 · Externalities, Public Goods & Policy Responses
I can distinguish private and external costs.