(1) The benchmark for social studies content standard 5 for a student upon graduation is the ability to:

(a) analyze the impact that supply and demand, scarcity, prices, incentives, competition, and profits influence what is produced and distributed in various economic systems;

(b) use basic economic concepts (e.g., production, distribution, consumption, market economy, command economy) to compare and contrast local, regional, national, and global economies across time and at the present time;

(c) assess the costs and benefits to society of allocating goods and services through private and public sectors;

(d) compare and contrast how values and beliefs influence economic decisions in different economic systems;

(e) explain the operations, rules, and procedures of common financial instruments (e.g., stocks and bonds, retirement funds, IRAs) and financial institutions (credit companies, banks, insurance companies) ; and

(f) explain and evaluate the effects of new technology, global economic interdependence, and competition on the development of national policies (e.g., social security system, medicare, other entitlement programs) and on the lives of the individuals and families in Montana, the United States, and the world (e.g., international trade, space exploration, national defense) .