HS Econ with Fin Lit Organizing Principle 3

Organizing Principle 3: Understand business structures, organizations, competition (Unit 3). Pacing 9 days

Measurement Topics Curriculum Standards Benchmarks Academic Language
SS.912.E.1.6
Market Structures and 1. Compare the basic characteristics of the four market structures (monopoly, 1. Perfect competition
Business Organizations oligopoly, monopolistic competition, perfect competition). SS.912.E.1.8 2. Commodity
Learning Targets: SS.912.E.2.6* 3. Barriers to entry
• Students will identify and compare the four types of market structures and give 4. Monopoly
5. Economies of scale
examples of firms in each market structure. 6. Natural monopoly
7. Patent
• Students will explain how prices and output are determined in each market 8. Copyright
9. Trademark
structure. 10. Franchise
11. Subsidiary
• Students will describe the government’s role in promoting competition. 12. Price discrimination
• Examples may include, but are not limited to, antitrust laws, barriers to entry, 13. Non-price competition
14. Market power
collusion, deregulation, product differentiation, economies of scale, imperfect 15. Monopolistic competition
competition, intellectual property, market failures, patent, predatory pricing, price 16. Product Differentiation
fixing, and price discrimination. 17. Oligopoly
18. Collusion
2. Explain ways firms engage in price and non-price competition. 19. Cartel
Learning Targets: 20. Predatory pricing
• Students will identify roles that prices play in allocating resources efficiently. 21. Antitrust laws
• Students will recognize the relationship between price competition and profits. 22. Trust
• Students will recognize the relationship between nonprice competition and profits. 23. Merger
• Students will describe competitive strategies using nonprice factors. 24. Regulation/

3. Examine the benefits of natural monopolies and the purposes of government Deregulation
regulation of these monopolies.
Learning Targets: 25. Business organization
• Students will analyze arguments for and against natural monopolies. 26. Sole proprietorship
• Students will examine the advantages of a natural monopoly. 27. Partnership
• Students will identify different examples of natural monopolies. 28. General partnership
• Students will discuss the government’s role in authorizing and regulating natural 29. Limited partnership
30. Limited liability
monopolies. 31. Corporation
32. Closed shop
• Examples may include, but are not limited to, electric, water, cable, waste 33. Collective bargaining
34. Labor Union
management, economies of scale, and efficiency in production. 35. Arbitration
36. Mediation
4. Compare different forms of business organizations. 37. Strike
Learning Targets: 38. Right to work
• Students will identify the characteristics and structure of the different forms of 39. Labor force
40. Labor pool
business organization: sole proprietorships, partnerships, corporations, and 41. Productivity
franchises. 42. Outsourcing
43. Boycott
• Students will compare the advantages and disadvantages of different forms of 44. Lockout
45. Injunction
business organization.

• Examples may include, but are not limited to, sole proprietorship, partnership,

corporation, and limited liability corporation.

5. Describe how the earnings of workers are determined.

Learning Targets: SS.912.E.1.5

• Students will describe how the labor supply and demand determine the equilibrium SS.912.E.1.9
wages. SS.912.FL.1.3
SS.912.FL.1.4
• Students will identify the determinants of labor demand and labor supply. SS.912.FL.5.11
• Students will identify factors that affect earnings of workers.
• Students will assess the impact of outsourcing and the use of temporary employees

as a dampener on wage increases.
• Students will analyze how education and skill level affect wages.
• Students will assess the impact of minimum wage, occupational safety laws, and

unions on wages.

• Examples may include, but are not limited to, minimum wage, the market value of

the product produced, workers’ productivity, labor unions, labor movements,
collective bargaining, fringe benefits, income distribution, immigration, pension,
strikes, and wage discrimination.

6. People can make more informed education, job, or career decisions by evaluating
the benefits and costs of different choices.

7. The wage or salary paid to workers in jobs is usually determined by the labor
market.

8. An economic role for government exists if individuals do not have complete
information about alternative investments or access to competitive financial
markets.

*This standard is listed under SS.912.E.2 because of its relevance to the material in
this Measurement Topic, it is suggested that this benchmark is instructed alongside.