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The way our country has organized its government,

The way our country has organized its government, the way that government reflects many of our beliefs, and the way we participate in government –. these are important parts of our culture. Economy in the United States. What assumptions can you make when viewing this sign/

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The way our country has organized its government,

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  1. The way our country has organized its government, the way that government reflects many of our beliefs, and the way we participate in government – these are important parts of our culture.

  2. Economy in the United States

  3. What assumptions can you make when viewing this sign/ billboard? What motivates business owners to display a sign? What motivates a person to start a business?

  4. Free Enterprise What exactly is a free enterprise economy?

  5. Market economy • An economy that is driven by the market based on

  6. Supply • How much there is available of an item or service.

  7. Demand • How many people what an item or service.

  8. Examples • Oil field in Cuero • Housing • Food places • Price increases • Social media Facebook – twitter

  9. If there is too much of something, if it is readily available (a certain electronic game, tickets to a not-so-popular concert), the price will likely be _______________.

  10. If there is a shortage of something, if it is not readily available (gasoline, a certain electronic game, tickets to a very popular concert), the price will likely be _______________.

  11. Characteristics of a Free Market Economy:

  12. Economic freedom Voluntaryexchange You can buy and sell to whomever or from whomever you want to • The government doesn’t have a hold it – you own it!

  13. Private property Profit motive The idea of having a business is to make a profit. • Something that belongs to you. The government doesn’t have a hold on it.

  14. Free Enterprise System

  15. a market economy in which individuals depend on supply, demand, and prices to determine the answers to the four economic questions of “what to produce,” “how to produce,” “how much to produce,” and “for whom to produce.”

  16. Global Economic Systems • Free Enterprise/Capitalism • Socialism • Communism

  17. You have two cows The Government takes two and Communism Sells you the milk! Government Control

  18. You have two cows and You Give One To Your Neighbor Socialism Public Ownership (land and/or natural resources

  19. You have two cows You sell one and buy a bull Capitalism Free Enterprise Competition

  20. What to produce?

  21. How to produce?

  22. How much to produce?

  23. For whom to produce?

  24. U.S. Free Enterprise Socialism Government Control Competition Public Ownership (land and/or natural resources

  25. Ethics and Free Enterprise Ethics = socially acceptable Morals = personal

  26. You and your friends decide to buy a game online (with parent permission). Everyone saved their money for months to purchase this cool game that was made available online. Once it has been purchased, it takes three weeks to get delivered to you.

  27. Three weeks later: With much excitement, you and your friends open the box only to find out the game does not work. When you try to call the company’s number, there is a recording stating that the number is no longer valid.

  28. O M G ! What r u going to do about it?

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