GRADE 12 SOCIAL STUDIES · CHAPTER 2
Economics, resources & choices
Study each lesson in order, or choose the idea you need today.
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Economic data
Compare economic indicators with context
Use supplied price-index, per-person and distribution data without treating one aggregate as a complete account of wellbeing.
Economics
Find comparative advantage from opportunity costs
Distinguish lower opportunity cost from greater total output using a simple two-producer model.
Economic data
Distinguish nominal changes from price-adjusted changes
Use a supplied price index to distinguish a change in money values from a change in price-adjusted output.
AN EXAMPLE FROM THIS CHAPTER
Use real value = nominal value ÷ price index × 100. Nominal output is 240 and the index is 120. What is the adjusted value?
Show answer & explanation
200
240 ÷ 120 × 100 = 200 in the stated base-price units.
Curriculum & source notes
These are original Little Play study books organized around U.S. school topics. The official curriculum references below guide topic scope and progression. Coverage is selected, not a complete curriculum or a verified match to every state standard. They are not copies of a publisher’s textbook. Check your school’s syllabus and book edition.
High-school courses can be taken in different years. Choose the topic that matches the student’s current course.
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