Guam
9th-12th Grades
State Standards
Standard 5: Economics - Students learn about the concepts of production, distribution, and consumption of goods and resources.
GH.5.1Explain how social changes and economic factors have impacted the physical environment, including: The tourism industry; The influx of immigrants; U.S. military build-up
GH.5.2Explain the structure and operation of the Guam economy, including the following: Development of major industries that contributed to the economic growth of Guam and its modernization; The changes in the types of jobs and occupations that have resulted from the modernization of Guam; The impact of national and international markets and events on the production of goods and services; Economic alternatives other than the military and tourism; The role of the federal government in the economy
WG.5.1Categorize the types of natural, human, and capital resources and explain their significance, including: Their influence on patterns of economic activity and land use; Different perspectives and consequences regarding the use of resources
WG.5.2Compare and contrast developed and developing countries and relate their level of economic development to their standard of living and quality of life.
WG.5.3Discuss the advantages and disadvantages of economic interdependence, including the formation of economic unions.
WH.5.1Explain how causes of wars are related to economics.
WH.5.2Compare the relationship between and among contemporary countries with differing economic systems.
WH.5.3Describe the interrelationship of world economies today.
US.5.1Analyze the effects of economic policies on the U.S. Example(s): Open Door Policy, Dollar Diplomacy
AG.5.1Compare and contrast the governments and economies in various countries with the government and the economy in the U.S., including the following: The distribution of governmental power; The relationship between the legislative and executive branches; The extent of participation in the political process; The degree of government involvement in the economies
AG.5.2Examine various economic systems, including the following: The basic economic questions encountered by all economic systems; The characteristics of free market, command, and mixed economies, as described by Adam Smith and Karl Marx; The impact of the government's role in the economy on individual economic freedoms; The relationship between economic freedom and political freedom; Productivity and the standard of living, as measured by key economic indicators
AG.5.3Analyze the role of government in the Guam and U.S. economies, including the following: The impact of fiscal and monetary policies on the economy; The creation of government-provided goods and services that are not readily produced by the market; Environmental issues, property rights, contracts, consumer rights, labor management relations, and competition in the marketplace; The types and purposes of taxation