Economic Understandings

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The student will give examples of the kinds of goods and services produced in Georgia in different historical periods.
The student will explain the benefits of free trade. Describe how Georgians have engaged in trade in different historical time periods. Explain how the four transportation systems from SS8G2 contribute to Georgia's role in trade
The student will evaluate the influence of Georgia's economic growth and development. Define profit and describe how profit is an incentive for entrepreneurs. Explain how entrepreneurs take risks to develop new goods and services to start a business. Evaluate the importance of entrepreneurs in Georgia who developed such enterprises as CocaCola, Delta Airlines, Georgia-Pacific, and Home Depot.
The student will identify revenue sources for and services provided by state and local governments. Trace sources of state revenue such as sales taxes, federal grants, personal income taxes, and property taxes. Explain the distribution of state revenue to provide services. Evaluate how choices are made given the limited revenues of state and local governments.
The student will explain personal money management choices in terms of income, spending, credit, saving, and investing.

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