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Standards for Profit Maximization

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National Standards in Economics

Name: Decision Making

Standard: 2

  • Students will understand that: Effective decision making requires comparing the additional costs of alternatives with the additional benefits. Many choices involve doing a little more or a little less of something: few choices "are all or nothing" decisions.
  • Students will be able to use this knowledge to: Make effective decisions as consumers, producers, savers, investors, and citizens.

Name: Entrepreneurship

Standard: 14

  • Students will understand that: Entrepreneurs take on the calculated risk of starting new businesses, either by embarking on new ventures similar to existing ones or by introducing new innovations. Entrepreneurial innovation is an important source of economic growth.
  • Students will be able to use this knowledge to: Identify the risks and potential returns to entrepreneurship, as well as the skills necessary to engage in it. Understand the importance of entrepreneurship and innovation to economic growth, and how public policies affect incentives for and, consequently, the success of entrepreneurship in the United States.

State Standards

Common Core State Standards

Name: HSA-CED.A

Standard: High School: Algebra

Area: High School: Algebra

  • Create equations that describe numbers or relationships.

Name: HSF-BF.B

Standard: High School: Functions

Area: High School: Functions

  • Build new functions from existing functions.

Name: HSF-IF.C

Standard: High School: Functions

Area: High School: Functions

  • Analyze functions using different representations.