Economics Chp.2 (3)

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Economics Chp.2 (3)
2013-08-27 19:25:03
Economic OHS

1st 9 weeks
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  1. Economic Freedom
    • Individuals free to make choices as buyers and as producers
    • (what we will buy or sell and what we are willing to pay)
  2. Economic Efficiency
    • Wise use of resources to meet needs and wants of society¬†
    • (How can we maximize use of resources)
  3. Economic Equity
    Everyone benefits the same from economic policies
  4. Economic Security
    • Protection for society from issues they cannot control alone¬†
    • (Safety, prices, terrorism, health care)
  5. Economic Stability
    Maintaining and improving societies
  6. Standard of living
    The material well being of an individual, group or nation
  7. Economic Growth
    Expansion of economy to produce more good and services, jobs, and wealth
  8. 1) Support and take care of yourself and your family
    Individual rights and responsibilities in a Free Market System
  9. 2) Elect responsible government officials to work for you
    Individual rights and responsibilities in a Free Market System
  10. Socialism
    Government management of needs of society, i.e Social security, healthcare, disabled citizens