SOL Prep

Economic Decisions

Virginia SOL CE.11

Analyze how economic decisions are made in the marketplace and daily life.

Study CE.11 with SOL PrepBack to Grade 7 - Civics and Economics

What students need to be able to do

  • Explain that due to scarcity, consumers, producers, and governments must make economic choices with opportunity costs.
  • Explain the importance of innovation and productivity including freedom to choose occupations, technology's role, and human capital development.
  • Compare and contrast free-market, command, and mixed economies and their effects on resource allocation.