Social Institution: Economy

1. Social Institution: Economy Codey Yurkewicz Andrew Kloss Dylan Nuzzo

2. The American Economy Economy- A system for producing and distributing goods and services to fulfill peoples wants Institution of the economy helps meet individuals wants and needs by providing a system for producing and distributing goods and services

3. Characteristics of the Economy Consumer- A person who uses or consumes goods and services to satisfy his or her wants Market- people exchange good and services Price- The amount you must pay for a good or service in market Money- Is anything from beads to coins to checks which is generally accepted as payment as payment for a good or a service

4. 5 American Economic Freedoms • Freedom to buy and sell goods or services to anyone you want. • Freedom to compete against others who are selling goods or services. • Freedom to make money. • Freedom to own your goods before sale. • Freedom to pursue any career that you would like.

5. American employment

7. Today’s economy • Today the economy is suffering • The stock market crashed in 2008 • We are still feeling the affects in 2010

8. Bibliography