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The state board of education shall establish a program of instruction for the public high schools on the essentials of the free enterprise system. Instruction shall be given in accordance with the course of study prescribed by the state board of education for at least one (1) semester, equal to one-half (½) unit of credit. The state board of education shall prescribe suitable teaching material for the instruction.
As used in this section, “instruction on the essentials of the free enterprise system” may be construed to include a minimum of thirty (30) weeks participation in the Junior Achievement Program, and such participation shall render the student eligible for the one-half (½) unit of credit granted under this section.
As used in this section, “free enterprise” means an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision rather than by state control and by prices, production and the distribution of goods that are determined in a free manner.