Civics and Economics Review Notes for Parents and Students

Transcription

1 Civics and Economics Review Notes for Parents and Students Grade 7 Civics and Economics 2 nd /4 th Nine Weeks,

2 Civics and Economics Content Review Notes: Standards of Learning in Detail Grade 7 Civics and Economics: Second and Fourth Nine Weeks August 2017 This resource is intended to be a guide for parents and students to improve content knowledge and understanding. The information below is detailed information about the Standards of Learning taught during the 2 nd and 4 th grading periods and comes from the Civics and Economics Standards of Learning Curriculum Framework issued by the Virginia Department of Education. The Curriculum Framework in its entirety can be found at the following website: /2008/2008_final/framewks_civics_economics.pdf CE.7a-d The student will demonstrate knowledge of the American constitutional government at the state level. CE.7a Describe the structure and powers of state government (Legislative Branch). What are some of the powers of the three branches of state government? Legislative, executive, and judicial powers are separated at the state level of government. What is the structure of Virginia s state government? The form of government of the Commonwealth of Virginia is established by the Virginia Constitution. GENERAL ASSEMBLY Bicameral Legislature House of Delegates Virginia Senate Makes laws for Virginia Meets annually for a fixed number of days 2

3 CE.7b Explain the relationship of state governments to the national government in the federal system. How does the Constitution of the United States of America outline the division and sharing of powers between the national and state governments? The Constitution establishes the principle of federalism, which is the division of power between the states and the national government. The expansion of the national government s powers into areas traditionally reserved to the states has altered the relationship of states to national government. The Constitution of the United States of America establishes a federal form of government in which the national government is supreme. The powers not given to the national government by the Constitution of the United States of America are reserved for the states. The Constitution of the United States of America denies certain powers to both the national and state governments. Primary Responsibilities of Each Level of Government National Conducts foreign policy, regulates commerce, provides for the common defense State Promotes public health, safety, and welfare Tensions exist when federal mandates require state actions without adequate funding. 3

4 CE.7c Explain and/or simulate the lawmaking process. Which branch of Virginia state government has the power to pass laws? Members of the Virginia General Assembly are elected to make state laws. How does the Virginia General Assembly make laws? All citizens can learn the importance of the individual s participation in the policy making process through direct participation and simulations. The Lawmaking Process in the Virginia General Assembly Introduce a bill Work in committees Debate on the floor of each house Vote on bill in each house Send the bill to the governor to sign into law Elected officials write laws and take action in response to problems or issues. Individuals and interest groups help shape legislation. 4

5 CE.7c continued Explain and/or simulate the lawmaking process. Primary Issues in the Legislative Process at the State Level Education: To promote an informed and engaged citizenry (i.e., establish minimum standards for local schools) Public Health: To promote and protect the health of its citizens (i.e. fund health benefits) Environment: To protect natural resources (i.e., improve water equality in the Chesapeake Bay) State Budget: To approve the biennial (two year) budget prepared by the governor Revenue: To levy taxes and collect taxes 5

6 CE.7a Describe the structure and powers of state governments (Executive Branch). What are some of the powers of the three branches of state government? Legislative, executive, and judicial powers are separated at the state and national levels of government. What is the structure of the Virginia s state government? The form of government of the Commonwealth of Virginia is established by the Virginia Constitution. Governor and Lieutenant Governor are executive Officers who are elected to a four-year term in office. Executes laws of Virginia Executive power exercised by the governor Appoints cabinet officers (who oversee specific functions of government) and boards CE.7d Describe the roles and powers of the executive branch and regulatory boards. What are the roles and powers of the executive branch at the state level? The executive branch of the Virginia state government enforces the laws and plays a key role in the policymaking process. Chief of State Chief Legislator Chief Administrator Party Chief The governor of Virginia exercises the formal powers granted by the Virginia Constitution. Commander-in-Chief 6

7 CE.7a (continued) Describe the structure and powers of state governments (Executive Branch). Cabinet secretaries and departments, agencies, commissions, and regulatory boards: Administer laws Enforce laws Regulate aspects of business and the economy Provide services CE.7a Describe the structure and powers of local, state, and national governments (Judicial Branch). What are some of the powers of the three branches of state government? Legislative, executive, and judicial powers are separated at the state and national levels of government. What is the structure of Virginia s state government? The form of government of the Commonwealth of Virginia is established by the Virginia Constitution. Virginia Judicial Branch of Government Judicial Power is exercised by a court system that consists of four levels of courts. Virginia Supreme Court Power of judicial review over state laws Court of Appeals of Virginia Virginia Circuit Courts Virginia District Courts Include small claims courts and juvenile and domestic relations courts 7

8 CE.10a-d The student will demonstrate knowledge of the judicial system established by the Constitution of Virginia. August 2017 CE.10a Describe the organization of the United States judicial system as consisting of state courts with original and appellate jurisdiction. How are state courts organized, and what jurisdiction does each exercise? The judicial function is exercised in a dual court system, which consists of state courts and federal courts. VIRGINIA COURT SYSTEM Virginia, like each of the other forty-nine states, has its own court system whose organization and jurisdiction are derived from Virginia s constitution and state laws. Virginia Supreme Court (justices/no jury) Appellate jurisdiction Limited original jurisdiction Court of Appeals of Virginia (judges/no jury) Appellate jurisdiction to review decisions of circuit courts Circuit Court (Judge with or without jury) Original jurisdiction for felony criminal cases and for certain civil cases Appellate jurisdiction from district courts General District Court and Juvenile and Domestic Relations Court (Judge/no jury) Original jurisdiction for misdemeanors in civil cases generally involving lower dollar amounts Juvenile and Domestic Relations District Court (judge) Original jurisdiction in juvenile and family cases 8

9 CE.10a: Court Sort Directions: Use standard CE.10a complete the sorting activity. August Cut each group of terms along the dotted lines: Courts, jurisdiction(s), who hears the case. 2. Scramble terms. 3. Arrange courts with the proper jurisdiction(s) and who hears the case. 4. Separate according to U.S. and Virginia court systems. Courts Jurisdictions Who hears the case? U.S. Supreme Court limited original jurisdiction appellate jurisdiction justices Virginia Supreme Court appellate jurisdiction judges Court of Appeals of Virginia U.S. Court of Appeals appellate jurisdiction to review circuit court decisions limited original jurisdiction appellate jurisdiction judge with or without jury judges U.S. District original for felony criminal cases and certain civil cases Judge Circuit Court General District Court original for juvenile and family cases and for misdemeanors involving lower dollar amounts appellate from district courts original jurisdiction justices judge with or without jury 9

10 CE.6a, CE.7a, CE.10a: Powers Grid Directions: Use standards CE.6a (1 st Nine Weeks Notes), CE.7a, and CE.10a to complete the actvity. Using the definitions listed below, match the definition with term by writing the number in the box. Each column and row adds up to 34. U.S. District Congress Mayor U.S. Supreme 34 Total General District Court House of Representatives General Assembly U.S. Senate 34 Total Governor U.S. Court of Appeals Court of Appeals of VA President 34 Total Board of Supervisors Virginia Supreme Town Council Circuit Court 34 Total 34 Total 34 Total 34 Total 34 Total 1. has original jurisdiction for felonies 2. local executive elected by the voters 3. makes laws for the nation/ approves an annual budget/ can declare war 4. makes ordinances for a county 5. has original jurisdiction for misdemeanors and civil cases involving lower dollar amounts 6. court with appellate jurisdiction from U.S. District 7. court with appellate jurisdiction from Circuit court 8. consists of 100 members- 2 from each state 9. state executive that enforces laws/ appoints cabinet officers/ prepares biennial budget 10. consists of 435 members 11. makes laws for Virginians/ comprised of the House of Delegates and Virginia Senate 12. commander in chief of the U.S./ appoints ambassadors/ enforces laws of the nation 13. has the power of judicial review/ can declare an act of the President unconstitutional 14. makes ordinances for a town 15. court of final appeal in Virginia 16. original jurisdiction for cases involving federal law 10

11 CE.10c Compare and contrast civil and criminal cases. How are criminal and civil cases similar and different? Courts resolve two kinds of legal conflicts-civil and criminal. Criminal Law and Criminal Cases In a criminal case, a court determines whether a person accused of breaking the law is guilty or not guilty of a misdemeanor or a felony. CRIMINAL CASE PROCEDURES A person accused of a crime may be arrested if the police have probable cause. The accused may be committed to jail or released on bail. The case proceeds to an arraignment where probable cause is reviewed. An attorney may be appointed for the defendant, and a plea is entered. A court date is set and a trial is conducted. A guilty verdict may be appealed. Civil Law and Civil Cases In a civil case, a court settles a disagreement between two parties. CIVIL CASE PROCEDURES The plaintiff files a complaint to recover damages or receive compensation. Cases can be heard by judge or jury. Case can be appealed. 11

12 CE.10c: Criminal Felony Procedure Directions: Use standard CE.10c to complete the graphic organizer. August Police must demonstrate this: If a person loses the case: 12

13 CE.10d Explain how due process protections seek to ensure justice. August 2017 How do the due process protections ensure justice? The right to due process of the law is outlined in the 5 th and 14 th Amendments to the Constitution of the United States of America. Due Process of the Law Constitutional protection against unfair governmental actions and laws 5 th Amendment Prohibits the national government from acting in an unfair manner. 14 th Amendment The Supreme Court Prohibits state and local has extended the due process governments from acting in clauses to protect the an unfair manner guarantees of the Bill of Rights. CE.8a-c The student will demonstrate knowledge of the American constitutional government at the local level. CE.8a Describe the structure and powers of local governments. What are the units of local government in Virginia? The units of local governments in Virginia are political subdivisions created by the General Assembly. The units of local government in Virginia are counties, towns, and cities. Local governments exercise legislative, executive, and judicial powers. 13

14 CE.8a (continued) Describe the structure and powers of local governments. Which local officials are elected? Which powers do local governments exercise? Local Legislative Branch Local Executive Branch Local Judicial Branch Virginia Counties Limits power to that delegated by the state Elected board of supervisors Exercises legislative powers Enacting ordinances (local laws) Adopting an annual budget Elected or appointed school board Oversees operation of K-12 public schools in the county Virginia Incorporated Towns Limits power to that delegated by the state Elected town council Exercise legislative powers: Enacting ordinances (local laws) Adopting an annual budget Virginia Cities Limits power to that delegated by the state Manager may be hired by the legislative branch to oversee the operation of the local government Mayor is elected by voters or by town council Manager may be hired by the legislative branch to oversee the operation of the local government Mayor is elected by voters or by city council Local courts Hear cases under the authority provided by state legislation In every Virginia locality, state courts resolve judicial disputes. Judges of the circuit courts, district courts, juvenile and domestic relations courts, and small claims courts hear cases in each locality. Elected city council Exercise legislative powers Enacting ordinances (local laws) Adopting an annual budget Elected or appointed school board Oversees operation of K-12 public schools in the county Manager may be hired by the legislative branch to oversee the operation of the local government (Example: City of Suffolk) 14

15 CE.8a (continued) Describe the structure and powers of local governments. August 2017 The Virginia Constitution requires that voters in every locality elect a sheriff, a clerk of the circuit court, a commissioner of revenue, and a treasurer. What powers do local governments exercise? Enforce state and local laws Promote public health Protect public safety Educate children Protect the environment Regulate land use Levy and collect taxes CE. 8b Explain the relationship of local governments to the state government. What is the relationship between the state government and local governments in Virginia? The authority of local governments in Virginia is derived from the state. All powers of local governments in Virginia are given to them by the Constitution of Virginia and acts of the General Assembly. Not all counties and cities are given the same powers. Cities have charters listing their powers. 15

16 CE. 8c Explain and/or simulate the lawmaking process. What localities enact ordinances? Counties, cities, and towns adopt and enforce ordinances to provide services for their residents. All citizens can learn the importance of the individual s participation in the policy making process through direct participation and simulation. An elected board of supervisors is the local legislative body in counties and is responsible for passing laws (ordinances) for the county. An elected council is the local legislative body in independent cities and in incorporated towns. Individuals can have the greatest influence on the decisions made by local government officials. CE.9a-d Demonstrate knowledge of how public policy is made at the local levels of government. CE. 9c Describe the impact of international issues and events on local decision making. Which international issues and events would require local government officials to act? Local governments may be required to formulate, adopt, and implement public policies in response to international issues and events. International issues and events that would require policy decisions by local government officials could include the following: Public health concerns in the event of a pandemic Public safety in the event of an act of terrorism Economic development policies in response to the emerging global economy Policies to protect the environment (e.g. wildlife protection) 16

17 CE.8a and CE.9c: Going Local Directions: Use standards CE.8a and CE.9c complete the activities. Activity #1: Complete the analogy. 1. town : town council :: : board of supervisors 2. governor : state :: : city 3. national : law :: local : 4. local legislature : :: employer : employee 5. governor : state bureaucracy :: school board : Activity #2: Read each scenario. Identify which policy topic is addressed in the scenario. 1. The city council discussed a new warning system to alert citizens of immediate threats to the community. 2. The Pandemic Flu Planning Committee met at the community center to discuss changes to the policy that would include local schools. 3. A 1% tax will be added to all recreational activities. The revenue will be used to clean up the Nansemond River. 4. The county board of supervisors rezoned four thousand acres of land in an effort to attract more businesses

18 CE.11a-c The student will demonstrate knowledge of how economic decisions are made in the marketplace. CE.11a Apply the concepts of scarcity, resources, choice, opportunity cost, price, incentives, supply and demand, production, and consumption. How do people deal with scarcity, resources, choice, opportunity cost, price, incentives, supply and demand, production, and consumption? People make choices about how to use limited resources, decide the ownership of resources, and structure markets for the distribution of goods and services. Economic Concept Scarcity Resources Choice Opportunity Cost Price Incentive Supply and Demand Production Consumption Definition Inability to satisfy all wants at the same time. All resources and goods are limited. This requires that choices be made. Factors of production that are used in the production of goods and services. Types of resources are natural, human, capital, and entrepreneurship. Selecting an item or action from a set of possible alternatives. Individuals must choose/make decisions about desired goods and services because these goods and services are limited. What is given up when a choice is made the highest valued alternative forgone. Individuals must consider the value of what is given up when making a choice. Amount of money exchanged for a good or service. Interaction of supply and demand determines price. Price determines who acquires goods and services Things that incite or motivate. Incentives are used to change economic behavior. Interaction of supply and demand determines price. Demand is the amount of a good or service that consumers are willing and able to buy at a certain price. Supply is the amount of a good or service that producers are willing and able to sell at a certain price. Combining of human, natural, capital, and entrepreneurship resources to make goods or provide services. Resources available and consumer preferences determine what is produced. Consumption is using goods and services. Consumer preferences and price determine what is purchased. 18

19 CE.11a: Economics Grid Directions: Use standards CE.11a to complete the actvity. Using the definitions listed below, match the definition with term by writing the number in the box. Each column and row adds up to Supply Choice Resources Total 15 Consumption Opportunity Cost Scarcity Total 15 Incentives Demand Production Total Total Total Total 1. selecting an item or action from a set of alternatives 2. combining of resources to make goods or provide services 3. using goods and services 4. things that incite or motivate 5. what is given up when a choice is made 6. factors of production that are used in the production of goods and services 7. inability to satisfy all wants at the same time 8. the amount of a good or service that producers are willing and able to sell at a certain price 9. the amount of a good or service that consumers are willing and able to buy at a certain price 19

20 CE. 11b Compare the differences among traditional, free market, command, and mixed economies. What are the basic economic questions all societies must answer? Each type of economy answers the three basic questions differently. August 2017 How does each type of economy answer the three questions? Every country must develop an economic system to determine how to use its limited productive resources. What are the basic characteristics of traditional, free market, command, and mixed economies? The key factor in determining the type of economy a country has is the extent of government involvement. Three Basic Questions of Economics What will be produced? Who will produce it? For whom will it be produced? No country relies exclusively on markets to deal with the economic problem of scarcity. Economic decisions are based on custom and historical precedent. People often perform the same type of work as their parents and grandparents, regardless of ability or potential. Private ownership of property/ resources Profit motive Competition Consumer sovereignty Individual choice Minimal government involvement in the economy Central ownership (usually by the government) of property/ resources Centrallyplanned economy Lack of consumer choice Individuals and businesses as decision makers for the private sector Government is owner and decision maker for public sector Government s role is greater than in a free market economy and less than in a command economy Most common economic system today 20

21 CE.11c Describe the characteristics of the United States economy, including free markets, private property, profit, and competition. What are the essential characteristics of the United States economy? The United States economy is primarily a free market economy, but because there is some government involvement, it is characterized as a mixed economy. Government intervenes in a market economy when the perceived benefits of a government policy outweigh the anticipated costs. Markets: Markets are generally allowed to operate without undue interference from the government. Prices are determined by supply and demand as buyers and sellers interact in the marketplace. Private Property: Individuals and businesses have the right to own personal property as well as the means of production without undue interference from the government. Characteristics of the United States Economy Profit: Profit consists of earnings after all expenses have been paid. Competition: Rivalry between producers and/or sellers of a good or service usually results in better quality goods and services at a lower price. Consumer sovereignty: Consumers determine through purchases, what goods and services will be produced. Government involvement in the economy is limited. Most decisions regarding the production of goods and services are made in the private sector. 21

22 The district-wide Civics and Economics 2 nd /4 th Nine Weeks Midpoint/Post-Test will be administered approximately four to five weeks into the nine weeks marking period. Tested Civics and Economics SOLs include: CE.7a-d, CE.10acd, CE.8a-c, CE.9c, and CE.11a-c. Previously tested 1 st nine weeks SOLs will be included on the midpoint/post-test. Previously tested Civics and Economics SOLs include: CE2abcd and CE.3abcde, CE.5a-g, CE.6a-d, CE.9ab, and CE.10ab. 22

23 CE.12a-d The student will demonstrate knowledge of the structure and operation of the United States economy. CE.12a Describe the types of business organizations and the role of entrepreneurship. What are the basic types of profit-seeking business structures? There are three basic ways that businesses organize to earn profits. Proprietorship Partnership Corporation A form of business organization A form of business organization A form of business with one owner who takes all with two or more owners who organization that is the risks and all the profits. share the risks and the profits. authorized by law to act as a legal person regardless of number of owners. Owners share the profits. Owner liability is limited to investment. What is an entrepreneur? A person who takes a risk to produce goods and services in search of profit May establish a business according to any of the three types of organizational structures 23

24 CE.12b Explain the circular flow that shows how consumers (households), businesses (producers), and markets interact. How do resources, goods and services, and money flow among individuals, businesses, and governments in a market economy? Resources, goods and services, and money follow continuously among households, businesses, and markets in the United States economy. Businesses (producers) buy resources to make products that are sold to individuals. Individual and business saving and investment provide financial capital that can be borrowed for business expansion and increased consumption. Governments use tax revenue from individuals to provide public goods and services. Governments use tax revenue from businesses to provide public goods and services. Businesses sell their goods to consumers in the market place (individuals, other businesses, and government). Individuals (households) own the resources used in production, sell the resources and use the income to purchase products (goods and services) 24

25 CE.12c Explain how financial institutions channel funds from savers to borrowers. August 2017 How do financial institutions encourage saving and investing? Private financial institutions act as intermediaries between savers and borrowers that include households and business investors. Private Financial Institutions Include banks, savings and loans, and credit unions Receive deposits and make loans Encourage saving and investing by paying interests on deposits CE.12d Examine the relationship of Virginia and the United States in the global economy, with emphasis on the impact of technological innovations. Why do Virginia and the United States trade with other nations? Virginia and the United States pursue international trade in order to increase wealth. Global Economy Worldwide markets in which the buying and selling of goods and services by all nations takes place. To buy goods and services at a lower cost or lower opportunity cost To obtain goods and services they cannot produce efficiently themselves Reasons That States and Nations Trade To sell goods and services to other countries. To create jobs Virginia and the United States specialize in the production of certain goods and services which promotes efficiency and growth. 25

26 CE.12d (continued) Examine the relationship of Virginia and the United States in the global economy, with emphasis on the impact of technological innovations. What is the impact of technological innovation on world trade? Impact of Technological Innovations Innovations in technology (e.g. the internet) contribute to the global flow of information, capital, goods, and services. The use of such technology also lowers the cost of production. 26

27 CE.12: US Economy Bingo Directions: Use standards CE.12abcd to complete play the Bingo game. Game Instructions: 1. Cut numbered playing chips. 2. Cut question cards. Shuffle cards and turn cards upside down. 3. Partner calls clues/questions without revealing the answer. Example- Question 1, a person who takes a risk to sell goods and services in search of profit. ) 4. Place chips on corresponding answers located on Bingo boards. (Example- player placed chip 1 on Entrepreneur) 5. Questioner verifies correct answer and places his/her own chip. 6. See who can get a Bingo first. (Try these- 4 in a row, corners, or inside squares to win) 7. Shuffle cards, switch player who calls the questions, and play again! Question Cards w/answers Q- A form of Q- A form of business with one business with 2 or owner- more owners who share risk & profits Q- A form of business authorized by law to act as a legal entity. Liability is limited to investment Q- A person who takes a risk to sell goods and services in search of profit. Proprietorship Q- Why do Virginia and the U.S. pursue international trade? Partnership Q- A reason states and nations trade is to create- Corporation Q-A reason states and nations trade is to buy goods at a lower- Entrepreneur Q-The use of technology does this to the cost of production- To increase wealth Q- In the circular flow of economics, who owns the resources? Individuals Q-How do private financial institutions encourage saving and investing? Paying interest Jobs Q- In the circular flow of economics, who buys resources to make products? Businesses Q-Banks, savings and loans, and credit unions are examples of- Private financial institutions Cost or Opportunity Cost Q- In the circular flow of economics, who uses tax revenue to provide public goods and services? Government Q- A worldwide market in which the buying and selling of goods and services by all nations takes place- Global economy Lowers Q- In the circular flow of economics, who sells resources and uses income to buy products? Individuals Q-Specializing in the production of certain goods and services promotes- Efficiency 27

28 CE.12: US Economy Bingo (continued) August 2017 Playing Chips Bingo Boards Partnership Corporation Individuals Proprietorship Paying interest Global Economy Private Financial Institutions To Increase Wealth Lowers Individuals Businesses Jobs Efficiency Cost or Opportunity Cost Entrepreneur Government Jobs Government Entrepreneur Efficiency Private Financial Institutions Global Economy Cost or Opportunity Cost Corporation Individuals Lowers Partnership Individuals Businesses Proprietorship To increase wealth Paying interest 28

29 CE.13a-f The student will demonstrate knowledge of the role of government in the United States economy. CE.13a Examine competition in the market place. How does the United States government promote and regulate competition? Ways the Government Promotes Marketplace Competition Enforcing antitrust legislation to discourage the development of monopolies Engaging in global trade Supporting business start-ups Government Agencies That Regulate Business FCC (Federal Communications Commission) EPA (Environmental Protection Agency) FTC (Federal Trade Commission) These agencies oversee the way individuals and companies do business. 29

30 CE.13b Explain the creation of public goods and services. August 2017 What types of public goods and services does the government provide? Government provides public goods and services that individuals acting alone could not provide efficiently. CHARACTERISTICS OF PUBLIC GOODS AND SERVICES Examples include interstate highways, postal service, and national defense Provide benefits to many simultaneously Would not be available if individuals had to provide them How do governments pay for public goods and services? WAYS GOVERNMENTS PAY FOR PUBLIC GOODS AND SERVICES Through tax revenue Through borrowed funds Through fees (e.g. park entrance fees) 30

31 CE.13c Describe the impact of taxation, including an understanding of the reasons for the 16 th Amendment, spending, and borrowing. How does the government influence economic activity? The government taxes, borrows, and spends to influence economic activity. The 16th Amendment to the Constitution of the United States of America authorizes Congress to tax personal and business incomes. Government Taxes Increases in Government Taxes Decreases in Government Taxes Reduces the funds available for private and business spending. Increases the funds available for private and business spending. Government Borrowing Increased Government Borrowing Decreased Government Borrowing Reduces the funds available for borrowing by individuals and businesses. Increases the funds available for borrowing by individuals and businesses. 31

32 CE.13c (continued) Describe the impact of taxation, including an understanding of the reasons for the 16 th Amendment, spending, and borrowing. Government Spending Increased Government Spending Decreased Government Spending Increases demand, which may increase employment and production. Decreases demand, which may decrease employment and production. Increased Government Spending Higher taxes Decreased Government Spending Lower Taxes 32

33 CE.13c: Magic Word Directions: Use standard CE.13c to answer each questions 1-5 and determine the magic word. Government can influence the economy by taxing, borrowing, and spending. Can you predict the most likely effects from each? Clue- Your magic word is how government pays for public goods and services. 1) The government increases spending. What might happen to taxes? Increase - A Decrease - B 2) The government reduces funds that it borrows. What happens to the funds available for you to borrow? Increase - X Decrease - Y 3) An increase in government spending has this effect on demand- Increase - S Decrease - T 4) An increase in government spending has this effect on employment and production- Increase - E Decrease - F 5) The government decreases spending. What might happen to taxes? Increase S Magic Word: Decrease - T 33

34 CE.13d Explain how the Federal Reserve System acts as the nation s central bank. August 2017 What is the role of the Federal Reserve System? The Federal Reserve System is our nation s central bank. Has the duty to maintain the value of the national currency (dollar). Regulates banks to ensure the soundness of the banking system and the safety of deposits. Manages the amount of money in the economy to try to keep inflation low and stable Acts as the federal government s bank 34

35 CE. 13e Describe the protection of consumer rights and property rights. What is the role of the United States government in protecting consumer rights and property rights? The United States government passes laws and creates agencies to protect consumer rights and property rights. Individuals have the right of private ownership, which is protected by negotiated contracts that are enforceable by law. Government agencies establish guidelines that protect public health and safety. Consumers may take legal action against violations of consumer rights. 35

36 CE.13f Recognize that government creates currency and coins and that here are additional forms of money. Why does the government issue currency and coins? Which government agencies are responsible for creating money? Money is defined as anything that is generally accepted as method of payment. When the United States government issues coins and currency, people accept it in exchange for goods and services because they have confidence in the government. Government issues money to facilitate this exchange. The three types of money generally used in the United States are: $ Coins $ Federal Reserve Notes (Currency) $ Deposits in bank accounts that can be accessed by checks and debit cards 36

37 CE.14a-f The student will demonstrate knowledge of career opportunities. a) Identify talents, interests, and aspirations that influence career choice; b) Identify attitudes and behaviors that strengthen the individual work ethic and promote career success; c) Identify abilities, skills, and education and the changing supply and demand for them in the economy. d) Examine the impact of technological change and globalization on career opportunities. e) Describe the importance of education to lifelong personal finance. f) Examine the financial responsibilities of citizenship including evaluation, common forms of credit, savings, investments, purchases, contractual agreements, warranties, and guarantees. CAREER QUESTION CE.14a What is the role of selfassessment in career planning? CE.14b What is the role of work ethic in determining career success? CE.14c What is the relationship between skills, education, and income? CE.14d What influence do advances in technology have on the workplace? CE.14ef CAREER UNDERSTANDING An awareness of individual talents, interests, and aspirations is needed to select a career. Attitudes and behaviors that support a strong work ethic enhance career success. There is a correlation between skills, education, and income. Changes in technology influence the abilities, skills, and education needed in the workplace. CAREER KNOWLEDGE Career planning starts with selfassessment. Employers seek employees who demonstrate the attitudes and behaviors of a strong work ethic. Higher skill(s) and/or education level(s) generally lead to higher incomes. Supply and demand also influence job income. Employers seek individuals who have kept pace with technological change/skills. Technological advancements create new jobs in the workplace. Technology and information flows permit people to work across international borders. This creates competition from foreign workers for United States jobs but also may create opportunities fo United States workers to work for companies based in other countries Being fiscally responsible includes making careful spending decisions, saving and investing for the future, having insurance, keeping to a budget, using credit wisely, as well as understanding how contracts, warranties, and guarantees can protect the individual. 37

38 CE.14: Breaking the Code Directions: Use standard CE.14 to complete the activities. Activity #1: Use this code to answer the questions 1-5. CODE BOX J M U B & E G R L I A D S K H O C T N P F Y W 1. There is one job available and twelve people are applying for it. The salary being offered is much lower than expected. This is an example of _?_ influencing job income Being on time, good attendance, a positive attitude, and loyalty are all examples of traits employers look for when hiring an employee. This is why having a strong _?_ enhances your career success Whenever there are developments in technology, _?_ tend to be created in the workplace The first step is career planning is _?_ The more skill and education one as, the more likely he/she is to earn a _?_ Activity #2: Help Jazmine by reading the scenario and answering the question. Jazmine is not making good financial decisions. She has a good job but does not have any insurance. When she sees something she wants, she buys it. If she does not have the cash, she puts it on one of her many credit cards. She always seems to spend more than she earns. Her savings account has had $5.00 in it for the last three years. Her 65 TV is broken, but she s unsure of what to do to get it repaired. What are some things Jazmine can do to be more fiscally responsible?

39 District-made tests will NOT be administered at the end of the 2 nd /4 th Nine Weeks. 39

40 STAR (Students Teaching Activities Resources) STAR contains resources and activities that assist students in enhancing their comprehension of the Virginia Standards of Learning. Resources include but are not limited to activities, games, powerpoints, webquests, websites that address Standards of Learning objectives in each content area in grades K

41 The following pages contain vocabulary sorts that can be used to review relevant Civics and Economics terms for this grading period. Cut out the sort and practice matching the vocabulary word with the matching definition. Quizlet is a free online website that provides students extra opportunites to practice and review vocabulary words. Links to Civics and Economics Quizlet files are located on the Suffolk Public Schools STAR (Students Teaching Activities Resources) webpage. 41

42 CE.7a CE.7a bicameral State Legislative State Legislative a legislature consisting of two parts or houses (Examples: the Virginia Senate and House of Delegates) Virginia General Assembly lawmaking body for the state of Virginia CE.7a State Legislative House of Delegates the lower house for the General Assembly of Virginia CE.7a Virginia Senate State Legislative the upper house for the General Assembly of Virginia CE.7b federalism a form of government where the power is shared between the state and federal governments. CE.7b enumerated/expressed powers federal powers specifically stated in the U.S. Constitution 42

43 43

44 CE.7b CE.7b implied powers reserved powers federal powers not specifically stated in the U.S. Constitution. They are used to carry out expressed powers. powers that are set aside for the states in the U. S. Constitution CE.7b commerce trade in goods and services CE.7b mandates an official command or instruction from an authority CE.7b adequate sufficient in quality or quantity to meet a need or qualify for something CE.7b lobbying a group of supporters and representatives of particular interests who try to influence political policy on a particular issue 44

45 45

46 CE.7d State Executive cabinet secretaries August 2017 a group of senior officials appointed by a president, or governor to give advice on policy. CE.7d regulate State Executive to organize and control an activity or process by making it subject to rules or laws. CE.10a felony State Judicial a serious crime such as murder, rape, kidnapping, or robbery CE.10a misdemeanor State Judicial a minor offense such as vandalism or stealing inexpensive items CE.10a State Judicial juvenile a person not yet legally an adult CE.10c probable cause sufficient reason to believe that an arrest or search of a suspect is warranted 46

47 47

48 CE.10c verdict the finding of a jury on the matter that has been submitted to it in a trial CE.10c plaintiff somebody who begins a lawsuit against somebody else (the defendant) in a civil court CE.10c CE.10c jury defendant a group of people, usually twelve people, chosen to give a verdict on a legal case that is presented before them in a court of law a person or group required to answer charges in a court CE.10c arraignment to bring somebody to court to answer a criminal charge CE.10c compensation an amount of money or something else given to pay for loss, damage, or work done 48

49 49

50 CE.10d due process Following established legal procedures CE.10d Bill of Rights the first ten amendments to the U.S. Constitution, which protect people's basic human rights 50

51 51

52 CE.8a ordinances a law or rule made by an authority such as a city government CE.8a Board of Supervisors a group of people chosen to make executive or managerial decisions for an organization CE.8a Mayor somebody elected to be head of government in a city or town CE.8a City Council a group of elected officials responsible for the government of a city or other municipality CE.8a Sheriff in the United States, the chief law enforcement officer for a county CE.8a Treasurer someone who manages the finances of a government 52

53 53

54 CE.8b CE.8c charter Incorporated town a formal written statement describing the rights and responsibilities of a state and its citizens a town which has been legally established as a corporation and provides services to residents CE.9c International involving two or more countries or their citizens CE.9c implement to put something into effect or action CE.9c global economy the production and consumption of goods and services throughout the whole world 54

55 55

56 CE.11a economics the study of the production, distribution, and consumption of goods and services CE.11a scarcity not having enough resources to produce all of the things we would like to have CE.11a resources the money, people, and materials available to accomplish a community s goal CE.11a choice a person, thing, or course of action chosen by somebody from among a range of possibilities CE.11a CE.11a opportunity cost price the cost of the next best alternative use of time and money when choosing to do one thing rather than another the particular amount, usually of money, that is offered or asked for when something is bought or sold 56

57 57

58 CE.11a incentives something that encourages or motivates somebody to do something CE.11a CE.11a supply demand The amount of goods and services that producers are able and willing to sell at various prices during a specified time period the desire, willingness, and ability to buy a good or service CE.11a CE.11a consumption production the purchase and use of goods and services by consumers, or the quantity of goods and services purchased the goods or services produced by a company CE.11b economy the management of resources of a community or country with a view to its productivity. 58

59 59

60 CE.11b mixed economy system combining the basic characteristics of a pure market economy and a command economy CE.11b consumer sovereignty the role of consumer as the ruler of the market, determining what products will be produced CE.11b central ownership a situation where one, or a small group own a resource CE.11b command economy CE.11b traditional economy an economy in which resources and business activity are controlled by the government an economy where economic decisions are based on custom and historical precedent CE.11b profit motive the drive for people to make money 60

61 61

62 CE.11c CE.11c free market profit an economic system in which businesses operate without government control in matters such as pricing and wage levels the money a business receives for its products or services over and above its costs CE.11c private property something, especially land or buildings, owned by an individual or a nongovernmental corporation CE.11c competition the struggle that goes on between buyers and sellers to get the best possible price 62

63 63

64 CE.12a sole proprietorship A business owned and operated by a single person CE.12a partnership A business owned by two or more people who share in the risks and profits CE.12a corporation A type of business organization authorized by law to act as a legal entity regardless of the number of owners CE.12a liability legal responsibility for something, especially costs or damages CE.12a entrepreneur somebody who sets up and finances new commercial enterprises to make a profit CE.12a tax revenue An amount of money levied by a government on its citizens and used to fund the operation government and the country or state 64

65 65

66 CE.12b investment The outlay of money, with the object of making a profit For example, by depositing it in a bank or by buying stock in a company CE.12b circular flow/economic flow The steady unbroken stream of capital, resources, and goods and services that makes up the U.S. economy CE.12b consumers Individuals and groups that buy and use goods and services CE.12b businesses A company or other organization that buys and sells goods, makes products, or provides services CE.12b CE.12b producers A person, company, or country that manufactures goods or provides services to make a profit public goods and services goods and services provided for the use of a community 66

67 67

68 CE.12c deposits An act of placing money or a valuable item in a bank or other institution CE.12c interest The profit gained from money lent or invested CE. 12c CE.12c credit unions savings A cooperative savings association that makes loans to its members at reduced interest rates An amount money that is deposited in a bank or credit union that earns interest CE.12c securities brokerages A private financial institution which trades stock certificates or bonds CE.12d international trade the activity of buying and selling or bartering goods extending beyond or across national boundaries 68

69 69

70 CE.12d CE.12d specialize innovation devote resources towards providing a particular good or service that can be produced better or more economically something newly invented or a new way of doing things CE.12d global economy the production and consumption of goods and services throughout the whole world CE.12d efficiency the degree to which something is done well or without wasted energy CE.12d capital material wealth in the form of money or property 70

71 71

72 CE.13a monopoly a situation in which one company controls an industry or is the only provider of a product or service CE.13a regulate to organize and control an activity or process by making it subject to rules or laws CE.13a competition the activity of doing something with the goal of outperforming others or winning something CE.13a antitrust laws laws to control monopoly power and to preserve and promote competition CE.13a global trade the activity of buying and selling, or sometimes bartering, goods with other countries CE.13a Federal Communications Commission (FCC) regulates radio and television stations and oversees prices for interstate telephone and telegraph services 72

73 73

74 CE.13a Environmental Protection Agency (EPA) CE.13a CE.13b Federal Trade Commission (FTC) public goods and services enforces laws and regulations that prevent air and water pollution makes sure that businesses do not engage in unfair competition economic goods that are consumed collectively, such as highways and national defense CE.13b benefits something that has a good effect or promotes well-being CE.13b CE.13c tax revenue income tax an amount of money collected by a government from its citizens and used to run the government and the country or state a tax paid on money made from employment, business, or capital 74

75 75

76 CE.13c employment the condition of working for pay CE.13d (CE.13d Inflation deposits an increase in the supply of currency or credit relative to the availability of goods and services, resulting in higher prices and a decrease in the purchasing power of money to put money into an account in a bank or other financial institution CE.13d money supply the total amount of money available in a given economy. CE.13d Federal Reserve System United States banking system that regulates money supply and interest rates, consisting of 12 Federal Reserve Districts in which a Federal Reserve Bank regulates the activities of affiliated banks 76