SLO 12B.13.2.3: Analyze factors which affect the demand and supply

Economic Principles

First Section

Goal 1: Demonstrate critical, creative, and innovative thinking.

LO 1.1: Demonstrate critical, creative, and innovative thinking.
SLO 12B.1.1.1: Formulate questions to generate new ideas.
SLO 12B.1.1.2: Evaluate information and perspectives related to the thinking process.
SLO 12B.1.1.3: Evaluate patterns and connections related to critical, creative, and innovative thinking.

Goal 2: Employ current and emerging technologies used in business and industry.

GLO 2.1: Employ current and emerging technologies used in business and industry
SLO 12B.2.1.1: Evaluate appropriate current technologies for use in business and industry.
SLO 12B.2.1.2: Utilize appropriate current technologies used in business and industry.
SLO 12B.2.1.3: Identify and use technology for specific tasks to improve productivity and efficiency.
SLO 12B.2.1.4: Evaluate the utility of emerging trends in technology
GLO 2.2: Demonstrate awareness of digital footprints.
SLO 12B.2.2.1: Analyze the impact of one’s own digital footprint.

Goal 3: Demonstrate business communication skills.

Goal 4: Demonstrate an understanding of ethical and legal standards.

Goal 5: Identify historical influences and emerging trends as innovative sources for business.

Goal 6: Demonstrate awareness of sustainability in business

GLO 6.1: Demonstrate awareness of sustainability in business
SLO 12B.6.1.1: Demonstrate human sustainability practices while considering financial and environmental sustainability
SLO 12B.6.1.2: Demonstrate sustainable environmental practices while considering human and financial sustainability.
SLO 12B.6.1.3: Demonstrate sustainable financial practices while considering human and environmental sustainability.

Goal 7: Demonstrate an understanding of the impact culture and diversity have on business.

GLO 7.1: Demonstrate an understanding of the impact culture and diversity have on business.
SLO 12B.7.1.1: Reflect on how culture impacts business decisions,
SLO 12B.7.1.2: Examine First Nations, Métis, and Inuit perspectives and how they relate to business.

Goal 8: Describe and demonstrate employability skills

SLO 12B.8.1.1: Demonstrate an ability to read and write text, use documents, work with numbers, communicate orally, use technology, learn continuously, and think critically.
SLO 12B.8.1.2: Demonstrate positive attitude and behaviours, responsibility, adaptability, and safe work practices.
SLO 12B.8.1.3: Demonstrate time management and punctuality.
SLO 12B.8.1.4: Demonstrate the ability to work with others and participate in projects and tasks.

Goal 9: Explore education and career opportunities.

Goal 10: Analyze the role of business in society.

Goal 11: Demonstrate an understanding of personal finance

Goal 12: Demonstrate an understanding of the accounting procedures required to complete the accounti

Demonstrate an understanding of the accounting procedures required to complete the accounting cycle.

Goal 13: Demonstrate an understanding of economics and the global market.

GLO 13.1: Demonstrate an understanding of basic economic concepts.
SLO 12B.13.1.1: Define economy.
SLO 12B.13.1.2: Distinguish between microeconomics and macroeconomics.
SLO 12B.13.1.3: Analyze types of economic systems
SLO 12B.13.1.4: Analyze the sectors and their function in the economy,
SLO 12B.13.1.5: Demonstrate an understanding of the role and importance of currency within an economy.
SLO 12B.13.1.6: Calculate and explain economic formulas

GLO 13.2: Demonstrate an understanding of the law of supply and demand.

SLO 12B.13.2.1: Define terms related to supply and demand
SLO 12B.13.2.2: Analyze and illustrate the relationship between supply and demand.
SLO 12B.13.2.3: Analyze factors which affect the demand and supply curve
SLO 12B.13.2.4: Analyze the concept of elasticity on supply and demand.
SLO 12B.13.2.5: Apply the concept of supply and demand to a variety of markets,

GLO 13.3: Demonstrate an understanding of market influences.

GLO 13.4: Demonstrate an understanding of the economic life cycle.

LO 12B.13.4.1: Analyze the impact of each stage of the economic life cycle
SLO 12B.13.4.2: Define inflation and deflation.
SLO 12B.13.4.3: Identify indicators of inflation and deflation in the economy
SLO 12B.13.4.4: Explain the relationship between economic indicators and the financial well-being of consumers, businesses, and government
SLO 12B.13.4.5: Use a variety of statistical measures to evaluate a market,

GLO 13.5: Demonstrate an understanding of the global market.

SLO 12B.13.5.1: Evaluate an economic system’s performance based on criteria
SLO 12B.13.5.2: Analyze the roles of individuals, business, and government in economic decision making.
SLO 12B.13.5.3: Analyze factors that affect global trade

GLO 13.6: Demonstrate an understanding of how economic factors influence decision making.

SLO 12B.13.6.1: Demonstrate an understanding of how economic factors influence personal, consumer, business, and government decision making.
SLO 12B.13.6.2: Apply economic principles and concepts to complete an economic impact study (for example what are the causes and effects of ...).

Lesson content locked

If you're already enrolled, you'll need to login.