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National Standards for Civics and Government I.What are Civic
Life, Politics, and Government? What is civic life? What is politics? What is
government? V. What are the Roles of the Citizen in American Democracy?
What is citizenship? What are the rights of citizens? What
are the responsibilities of citizens? How can citizens take part in civic
life? NCEE Economics Standards Standard 1 : Scarcity Productive
resources are limited. Therefore, people can not have all the goods and services
they want; as a result, they must choose some things and give up others. Standard
8 : Role of Price in Market System Prices send signals and provide incentives
to buyers and sellers. When supply or demand changes, market prices adjust, affecting
incentives. Standard 11 : Role of Money Money makes it easier
to trade, borrow, save, invest, and compare the value of goods and services. Standard
14 : Profit and the Entrepreneur Entrepreneurs are people who take the
risks of organizing productive resources to make goods and services. Profit is
an important incentive that leads entrepreneurs to accept the risks of business
failure. Standard 15 : Growth Investment in factories, machinery,
new technology, and in the health, education, and training of people can raise
future standards of living. Standard 18 : Macroeconomy-Income/Employment,
Prices A nation's overall levels of income, employment, and prices are
determined by the interaction of spending and production decisions made by all
households, firms, government agencies, and others in the economy. Standard
20 : Monetary and Fiscal Policy Federal government budgetary policy and
the Federal Reserve System's monetary policy influence the overall levels of employment,
output, and prices.
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