Standards for How Does Information and Ethics Impact Decision Making?

Name: Incentives

Standard: 4

• Students will understand that: People usually respond predictably to positive and negative incentives.
• Students will be able to use this knowledge to: Identify incentives that affect people's behavior and explain how incentives affect their own behavior.

Name: Markets and Prices

Standard: 7

• Students will understand that: Markets exist when buyers and sellers interact. This interaction determines market prices and thereby allocates scarce goods and services.
• Students will be able to use this knowledge to: Identify markets in which they have participated as a buyer and seller and describe how the interaction of all buyers and sellers influences prices. Also, predict how prices change when there is either a shortage or surplus of the product available.