HonorsEcon/Econ Unit II Standards

SSEMI4
The student will explain the organization and role of business, and analyze the four types of market structures in the U.S. economy.
Element: SSEMI4.a
Compare and contrast three forms of business organization--sole proprietorship, partnership, and corporation.
Element: SSEMI4.b
Explain the role of profit as an incentive for entrepreneurs.
Element: SSEMI4.c
Identify the basic characteristics of monopoly, oligopoly, monopolistic competition and pure competition.