© 2009 Delmar, Cengage Learning Chapter 2 Agricultural Economics and the American Economy.
Economic Systems
What is Economics? Social science that studies how people, acting individually and in groups, decide to use scarce resources to satisfy their needs. Economics.
Economics Unit i Student Packet1
SUPPLY/D EMAND SETTING UP A BUSINESS ENTREPR ENEURS STOCK MARKET POT LUCK $100 $200 $300 $200 $300 $400 $500 FINALJEOPARDYFINALJEOPARDY Jeopardy.
ECONOMICS Notes. ECONOMIC SYSTEMS Command EconomyMarket EconomyTraditional Economy What to produce? Whatever the government decides What to produce? What.
Economic Systems and the American Economy Chapter 2.
SSEF4a – Compare command, market, and mixed economic systems with regard to private ownership, profit motive, consumer sovereignty, competition, and government.
Unit 2 Economic Systems
Part IV: Social Institutions. Although some people might use the words power and authority interchangeably, there is a subtle distinction between the.
Unit 2 Economic Systems Different methods can be used to allocate goods and services. People, acting individually or collectively through government, must.
Final Review!. What is the study of economics? How to meet unlimited wants with scarce resources How to meet unlimited wants with scarce resources Economists.
