1. Similarities and Differences in Economic Systems
2. Traditional, Command and Market Economics
3. Measures of Economic Activity
4. Expansion, Recession and Depression in the Economy

1. Scarcity and Limited Resources
2. Economic Reasoning of Choices
3. Allocation of Resources
4. Marginal Analysis and Decision-making
5. Opportunity Cost
6. Incentives

1. Factors Influencing Wages
2. Labor Productivity
3. Types of Businesses
4. Profits and Losses
5. Distribution of Wealth
6. Entrepreneurship
7. Costs and Benefits of Saving
8. Impact of Interest Rates

Economic Interdependence

1. Specialization
2. Trade
3. Implementation or Reduction of Trade Barriers
4. Pennsylvania Economic Patterns
5. Global Production and Consumption of Goods or Services
6. Comparative Advantage
7. Geographic Patterns of Economic Activities

Markets and the Functions of Governments

1. Market Transactions
2. Costs and Benefits of Competition
3. Function of Money
4. Economic Institutions
5. Changes in Supply and Demand
6. Forces that Can Change Price
7. Sources of Tax Revenue
8. Economic Roles for Governments
9. Public Goods
10. Costs and Benefits of Taxation
11. Impact of Media on the Cost and Benefits of Decision
12. Exchange Rates