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Standards for Exchange Rates

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National Standards in Economics

Name: Markets and Prices

Standard: 7

  • Students will understand that: Markets exist when buyers and sellers interact. This interaction determines market prices and thereby allocates scarce goods and services.
  • Students will be able to use this knowledge to: Identify markets in which they have participated as a buyer and seller and describe how the interaction of all buyers and sellers influences prices. Also, predict how prices change when there is either a shortage or surplus of the product available.

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: HSA-REI.A

Standard: High School: Algebra

Area: High School: Algebra

  • Understand solving equations as a process of reasoning and explain the reasoning.

Name: HSA-REI.B

Standard: High School: Algebra

Area: High School: Algebra

  • Solve equations and inequalities in one variable.

Name: HSA-SSE.A

Standard: High School: Algebra

Area: High School: Algebra

  • Interpret the structure of expressions.

Name: MP1

Standard: Standards for Mathematical Practice

Area: Standards for Mathematical Practice

  • Make sense of problems and persevere in solving them.

Name: MP4

Standard: Standards for Mathematical Practice

Area: Standards for Mathematical Practice

  • Model with mathematics.