Intro to Business – 9/16/09
I. Bellwork
A. Article Summary
- Identify the who, what, why, when, and where?
- Summarize the article in 20-30 words
II. Objectives
- Identify the 3 Economic Decisions
- Differentiate among the main types of economic decisions
- Describe the characteristics of the economic system of the United States
III. 1-3 Economic Decisions
A. 3 Economic Questions
1.
a. Example
2.
a. Example
3.
a. Example
B. Types of Economic Systems
1.
a. Who determines what to produce?
2.
a. Who determines what to produce?
3.
a. Who determines what to produce?
4.
a. Who determines what to produce?
C. U.S. Economic System
1. Capitalism definition:
a. Private Property definition:
b. Freedom of Choice definition:
c. Profit definition:
d. Competition definition:
IV. Classwork
A. Terms (6)
B. Pg 22 (1-4)
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