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Social Studies

High School Correlation of Hawaii SMS to the Hawai’i Content and Performance Standards for the Economics Standard can all be found in Social Studies Standard 8: Economics: RESOURCES, MARKETS, AND GOVERNMENT-Understand economic concepts and the characteristics of various economic systems.  Listed here are benchmarks for grade levels 9-11.

BENCHAMRK	HAWAII SMS
SS.9PD.8.3	X
SS.10.8.1	X
SS.10.8.2	X
SS.10.8.3	X
SS.11.8.1	X
SS.11.8.2	X
SS.11.8.3	X
SS.11.8.4	X

SS.9PD.8.3 -Evaluate the degree to which the United States affects and is affected by international economic policies

SS.10.8.1 -Explain the characteristics of the different market structures (i.e. monopoly, oligopoly, monopolistic competition, and pure competition) and their influence on product differentiation, price, barriers for entry, and market efficiency in a competitive marketplace

SS.10.8.2 -Describe the function and responsibilities of the Federal Reserve System in setting and carrying out the nation's monetary policy

SS.10.8.3 -Explain the purpose and/or role of government programs and policies, including unemployment, minimum wage, and Social Security, and their effect on the nation's economy

SS.11.8.1 -Explain how the exchange rate affects trade, imports, exports, and the economy of a nation

SS.11.8.2 -Describe the distribution of the world's resources as it affects international economic relationships

SS.11.8.3 -Describe how the determinants of demand (i.e., income, substitutes, complements, number of buyers, tastes, expectations) affect the price and availability of goods and services

SS.11.8.4 -Describe how the determinants of supply (i.e., price and availability of inputs, technology, government regulation, number of sellers) affect the price and availability of goods and services