Grade 7 - Civics and Economics · Economic Decisions
Virginia SOL CE.12
Virginia SOL CE.12 is part of the Economic Decisions strand in Grade 7 - Civics and Economics (History). Under this Standards of Learning objective, students describe the United States economy and its critical components. Below is what CE.12 covers in plain language, the specific skills it is assessed on, the key concepts to review, and how to practice CE.12 for the Virginia SOL test.
What SOL CE.12 means
Describe the United States economy and its critical components.
Practice Grade 7 - Civics and Economics SOL questions
Free Grade 7 - Civics and Economics questions from official Virginia Department of Education released SOL tests — good practice while you work on CE.12 and the rest of the course. Pick an answer to check it instantly, or open “Show answer” to review.
1. In a criminal case, a jury determines —
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Answer: B — whether someone is guilty of breaking the law
2. How are implied powers most often used by the United States Congress?
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Answer: A — To help carry out expressed powers
3. Which power is a responsibility of the Virginia General Assembly?
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Answer: B — Approves the state budget
4. Which action is an example of political lobbying?
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Answer: D — A health group asks legislators to pass tougher antipollution laws.
→ Take the full free Grade 7 - Civics and Economics SOL practice test
Skills you’ll practice for CE.12
- Evaluate the shared fundamental principles and connection of free enterprise and democracy.
- Describe the critical components of the U.S. economy including limited government, private property, markets, consumer sovereignty, and competition.
- Explain the concept of inflation and the effect of supply and demand on consumer prices in a market economy.
- Describe the types of business organizations and the role of entrepreneurship.
- Explain the role of consumers, producers, and government interactions in the economy.
- Explain how financial institutions fuel economic growth by channeling funds from savers to borrowers.
- Analyze the role of Virginia in the U.S. and global economies with emphasis on technological innovations.
Key concepts covered by CE.12
- free enterprise
- democratic capitalism
- economic freedom
- market economy
- political economy
- limited government
- private property rights
- consumer sovereignty
- competition
- inflation
- supply and demand
- price determination
- market equilibrium
- consumer prices
- business organizations
- sole proprietorship
- partnership
- corporation
- entrepreneurship
- consumer role
- producer role
- government intervention
- market regulation
- economic actors
- financial institutions
- capital formation
- lending
- savings
- investment
- Virginia economy
- technological innovation
- global trade
- economic sectors
- state economy
How to study and practice SOL CE.12
Start with a quick diagnostic to see whether CE.12 is already solid, then work each skill above with guided notes, flashcards, and SOL-style practice questions. For official released items, see our Virginia SOL practice tests guide and how to study for the SOL test.
→ Take the free Grade 7 - Civics and Economics SOL practice test
Related Grade 7 - Civics and Economics standards in Economic Decisions
Frequently asked questions about SOL CE.12
What is Virginia SOL CE.12?
SOL CE.12 is a Grade 7 - Civics and Economics Standard of Learning in the Economic Decisions strand. It expects students to describe the United States economy and its critical components.
What skills does SOL CE.12 cover?
SOL CE.12 is assessed on 7 skills: evaluate the shared fundamental principles and connection of free enterprise and democracy; describe the critical components of the U.S. economy including limited government, private property, markets, consumer sovereignty, and competition; explain the concept of inflation and the effect of supply and demand on consumer prices in a market economy; describe the types of business organizations and the role of entrepreneurship; explain the role of consumers, producers, and government interactions in the economy; explain how financial institutions fuel economic growth by channeling funds from savers to borrowers; analyze the role of Virginia in the U.S. and global economies with emphasis on technological innovations.
What strand of Grade 7 - Civics and Economics is SOL CE.12 in?
SOL CE.12 belongs to the Economic Decisions reporting strand of the Grade 7 - Civics and Economics Virginia Standards of Learning.
How do I study and practice for SOL CE.12?
Start with a diagnostic to see whether CE.12 is already solid, then work the 7 skills above with guided notes, flashcards, and SOL-style practice questions. For official released items, see the Virginia SOL practice tests guide.