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I. Economic and Social Goals - PowerPoint PPT Presentation


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I. Economic and Social Goals. 1. economic freedom. 7. full employment. 2. economic efficiency. 6. price stability. 5. economic security. 3. economic growth. 4. economic equality. 1. economic freedom. individuals. businesses. 2. economic efficiency. then. cause (if).

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Presentation Transcript
slide1

I. Economic and Social Goals

1. economic

freedom

7. full

employment

2. economic efficiency

6. price stability

5. economic

security

3. economic

growth

4. economic

equality

slide2

1. economic freedom

individuals

businesses

slide3

2. economic

efficiency

then

cause (if)

slide5

4. economic

security

then

cause (if)

Social Security

slide6

5. full employment

if

then

if

then

slide7

6.price stability

If_____ _________

people need more______

to buy food, clothing and shelter.

then______

__________

If people live on fixed income (income that does not change)

slide8

7. economic growth

people want…

*

*

*

*

more growth

More_____

and

________

slide10

II. Resolving Trade-Offs Among Goals

Goal:

Goal:

How are trade offs

resolved….

opportunity cost

(trade off)

opportunity cost

(trade off)

slide11

Section 3;. American Free Enterprise

A. Economic Freedom

D. Profit Motive

B. Voluntary Exchange

C. Private Property Rights

slide12

I. CHARACTERISTICS OF FREE ENTERPRISE CAPITALISM

A. Economic Freedom

B. Voluntary Exchange

C. Private Property Rights

D. Profit Motive

Example: PEOPLE

Example:

Example:

Example:

Example: BUSINESS

why do entrepreurs risk their money
Why do entrepreurs risk their money?

PROFIT MOTIVE!!!

They want to earn MORE $$$

compete

Which restaurant will make the most profit? The 3 restaurants will ___________ with

each other for consumer spending.

slide14

II. Role of the Entrepeneur

Organizes:

1._________________

2._________________

3._________________

Wants to see reward called _____________________

slide15

III. Role of the Consumer

Who is always right?_______________

“The __________ is always ________”

This is called c___________S________

slide16

IV. The Role of the Government

A. Protector

B. Provider

C. Regulator

D. Consumer

Example:

Example:

Example:

Example:

slide17

v. Modified Free Enterprise

  • government must protect, provide, regulate and consume
  • How much do we want government involved?

people and business buy and sell