Economics

sellers increase the satisfaction of both parties. 
a.
Give examples of how individuals and businesses specialize. 
b.
Explain that both parties gain as a result of voluntary, non-fraudulent exchange. 
SSEF4 The student will compare and contrast different economic systems and explain how they 
answer the three basic economic questions of what to produce, how to produce, and for whom to 
produce. 
a.
Compare command, market, and mixed economic systems with regard to private ownership, 
profit motive, consumer sovereignty, competition, and government regulation. 
b.
Evaluate how well each type of system answers the three economic questions and meets the 
broad social and economic goals of freedom, security, equity, growth, efficiency, and stability. 
SSEF5 The student will describe the roles of government in a market economy. 
a.
Explain why government provides public goods and services, redistributes income, protects 
property rights, and resolves market failures. 
b.
Give examples of government regulation and deregulation and their effects on consumers and 
producers. 
 

---

Economics Social Studies Georgia Performance Standards
 
 
Georgia Department of Education 
Revised 08/01/2012 

Page 2 of 10 
Copyright 2012 © All Rights Reserved
SSEF6 The student will explain how productivity, economic growth, and future standards of 
living are influenced by investment in factories, machinery, new technology, and the health, 
education, and training of people. 
a.
Define productivity as the relationship of inputs to outputs. 
b.
Give illustrations of investment in equipment and technology and explain their relationship to 
economic growth. 
c.
Give examples of how investment in education can lead to a higher standard of living.