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Unit 1: Introduction to Economics Goals 7.017.06, 8.018.03, 9.01 BLOCK PACING Unit Essential Questions1) How, and why do individuals and groups make economic choices?2) How does scarcity impact individuals
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Understand the basics of economics such as supply and demand, scarcity, and opportunity cost.
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Learn about different economic systems including capitalism, socialism, and mixed economies.
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Study the role of government in the economy and how it impacts economic decisions.
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Explore the various branches of economics such as microeconomics and macroeconomics.
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Apply economic theories and concepts to real-world scenarios and analyze their implications.

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Form 11 is a tax form used for reporting income and expenses related to a business or trade. It requires an understanding of economics, which is the study of how individuals and societies use resources to produce goods and services and distribute them among various people.
Individuals and entities engaged in trade or business activities are typically required to file Form 11. This includes self-employed individuals and businesses that meet certain income thresholds.
To fill out Form 11, taxpayers need to provide information on their income, expenses, and deductions from their business activities. It's important to gather all relevant financial documents and follow the instructions provided with the form.
The purpose of Form 11 is to accurately report the income earned and expenses incurred by a business during the tax year, serving as a basis for calculating the tax liability.
Form 11 typically requires reporting of total income, operating expenses, cost of goods sold, and any applicable deductions, as well as other relevant financial information pertaining to the taxpayer's business activities.
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