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Economics
 Standard 5.Understands unemployment, income, and income distribution in a market economy
   
Topics1. Supply and demand; 2. Income distribution
   Level IV [Grade 9-12]
   Benchmark 2. Understands the concept of supply and demand in the labor market (e.g., if wage or salary payments increase, workers will increase the quantity of labor they supply and firms will decrease the quantity of labor they demand)
    
Vocabulary terms
A. supply in labor market
B. demand in labor market

Knowledge/skill statements
1. Understands the concept of supply in the labor market  
2. Understands the concept of demand in the labor market  
3. Knows how changes in wages and salaries may affect levels of supply and demand in the labor market  


Citation Log: BD(NE,30)
Citation reference
BD = benchmark, declarative
BP = benchmark, procedural
BC = benchmark, contextual

1st letter/number of each code in parentheses:
B   International Baccalaureate: Economics
C   Colorado Economics Standards
DD   Department of Defense: Prekindergarten Social Studies Standards
E   NCEE: Framework for Economics
HS   Head Start: Child Outcomes Framework
J   JCEE: Economics, What and When
MH   McGraw-Hill: Pre-Kindergarten Standards: Guidelines for Teaching and Learning
N   NCEE: Voluntary National Content Standards in Economics
NZ   New Zealand Ministry of Education: Early Childhood Curriculum
P   NAEP: 2006 Assessment Framework in Economics for Grade 12
S   NCSS: Curriculum Standards for Social Studies
T   TEA: Texas Prekindergarten Curriculum Guidelines

2nd letter code :
E = Explicitly stated in document
I = Implicit in document

Number:
Page number of the cited document