National Standards in Economics

Below are the National Standards in Economics that most closely relate to the following lesson. Switch to National Standards in Personal Finance

LESSON

Lesson 11 - The Business Plan

http://entrepecon.councilforeconed.org/lessons.php?lid=68395

Grades: 9-12

STANDARDS

Standard: 10

Grades: 4-12

• Institutions
• Students will understand that: Institutions evolve and are created to help individuals and groups accomplish their goals. Banks, labor unions, markets, corporations, legal systems, and not-for-profit organizations are examples of important institutions. A different kind of institution, clearly defined and enforced property rights, is essential to a market economy.
• Students will be able to use this knowledge to: Describe the roles of various economic institutions and explain the importance of property rights in a market economy.