2. Essential Outcomes
1. Apply the concepts of Economic Systems and
Principles by:
Naming and applying the Four Basic Economic Systems
(Market, Traditional, Command, and Mixed) to the global
economy (Chapter 1)
Applying concepts of competition, scarcity, and supply and
demand to the effect on price and quantity (Chapter 2)
Comparing and contrasting embargos, tariffs, and quotas
to economic situations (Chapter 3)
Connecting key terms in the chapter with application (All
Chapters) with 85% accuracy