K–12 teaching and learning · from the UNC School of Education

Objective 5.01
Describe the relationship between the location of natural resources and economic development, and assess the impact on selected cultures, countries, and regions in South America and Europe.
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Objective 5.02
Examine the different economic systems, (traditional, command, and market), developed in selected societies in South America and Europe, and analyze their effectiveness in meeting basic needs.
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Objective 5.03
Explain how the allocation of scarce resources requires economic systems to make basic decisions regarding the production and distribution of goods and services, and evaluate the impact on the standard of living in selected societies and regions of South America and Europe.
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Objective 5.04
Describe the relationship between specialization and interdependence, and analyze its influence on the development of regional and global trade patterns.
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