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Martin Luther King Jr. Day

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Martin Luther King Jr. Day

Grade Levels

12th Grade, 6th Grade, 9th Grade

Course, Subject

Economics
Related Academic Standards
6.3.6.A 6.3.6.A

Examine government's role in providing public goods and services.
6.3.6.B 6.3.6.B

Describe the impact of government involvement in state and national economic activities.
6.3.6.C 6.3.6.C

Explain the cost and benefits of taxation.
6.3.6.D 6.3.6.D

Explain the benefits of international trade.
6.3.9.A 6.3.9.A

Analyze the process through which government provides public goods and services.
Expand
  • Big Ideas
    Economic decision-making by entities and individuals impact others locally, regionally, and around the globe.
    Individuals and entities endeavor to obtain goods and services and to accumulate wealth.
    The interaction of buyers and sellers determines prices and quantities exchanged, except when influenced by governmental policies.
    The location of resources, transportation, communication networks, and technological innovation affect international economic patterns and the distribution of wealth.
  • Concepts
    A nation's overall levels of income, employment, and prices are determined by the interaction of spending and production decisions made by all households, firms, government agencies, and others in the economy.
    All international economic activities are divided into three industries: primary (extractive industries), secondary (materials processing industries), and tertiary (service industries).
    Changes in education, incentives, technology, and capital investment alter productivity.
    Citizens, government employees, and elected officials do not always directly bear the costs of their political decisions.
    Demands for goods and services produced, labor unions, productivity, and education/skill are factors influencing wages.
    Economic activities can be divided into three industries: primary, secondary, and tertiary.
    Functions of production include natural, human, and capital resources.
    Governments may implement progressive, proportional, or regressive tax systems.
    Individuals can increase their employment odds through education, developing, and practicing new skills.
    Profit is an important incentive that leads entrepreneurs to accept the risks of failure.
    The Federal government budgetary policy and the Federal Reserve System's monetary policy influence the overall levels of employment, output, and prices.
    The accumulation of resources, whether abundant or not, is wealth.
    The accumulation of resources, whether abundant or not, is wealth. Individuals, regional entities and nation-states produce wealth to satisfy human needs and wants.
    The Federal government budgetary policy and the Federal Reserve System's monetary policy influence the overall levels of employment, output, and prices.
    The locations of resources, transportation, communication networks, and technology have affected international economic patterns.
    Trade occurs only when all participating parties expect to gain. This voluntary exchange is influenced by comparative advantage, competition, productivity, and trade barriers.
    When consumers make purchases, goods and services are transferred from businesses to households in exchange for money payments.
  • Competencies
    Analyze the benefits of voluntary exchange among people or organizations in different countries.
    Analyze the impact of fiscal policies and decisions to change spending and tax levels by the Federal government.
    Analyze why political leaders would support an idea that helps only a few.
    Assess factors that impact an individual and entities’ standards of living.
    Categorize several international economic activities into their respective industry.
    Compare the risks, returns, and other characteristics of entrepreneurship.
    Construct a map showing locations of resources, and explain the influence of transportation, communication networks, and technology in bringing them to market.
    Create a flow chart to explain the interrelated roles of households, businesses, and government in the economy.
    Describe what efforts are put forth when sellers compete.
    Evaluate the factors that influence wages.
    Explain how the gross domestic product can be used to describe a country's economic output over time, comparing outputs from year to year.
    Explain the difference between the budget deficit and national debt.
    Identify and analyze forces that can change price.
    Predict future earnings based on current plans for education, training, and career options.

Description

By completing the lesson which follows, students will learn that Civil Rights legislation (developed thanks, in part, to MLK) actually occurred after the beginnings of the development of the black middle class and did not precede it.

Web-based Resource

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Martin Luther King Jr. Day

Content Provider

Thinkfinity content is provided through a partnership between the Verizon Foundation, the philanthropic arm of Verizon Communications, and eleven of the nation's leading educational organizations, including: The American Association for the Advancement of Science; The International Reading Association; The John F. Kennedy Center for the Performing Arts; National Center for Family Literacy; Council for Economic Education; National Endowment for the Humanities; National Council of Teachers of English; National Council of Teachers of Mathematics; National Geographic Society; ProLiteracy; and The Smithsonian's National Museum of American History.

 

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