Economics – 2/27/12

I. Bellwork: Q&A

Identify the role government has in each:  protector, provider, or regulator

1. Environmental Protection Agency
2. Food and Drug Administration
3. Libraries
4. Federal Communications Commission
5. Consumer Product Safety Commission
6. Highways and Roads
7. Agricultural subsidies
8. Education
9. Federal Bureau of Investigation
10. Securities and Exchange Commission
11. Interstate Commerce Commission
12. Supreme Court

II.  Objectives:

• Review Chapter 2: Allocation of goods and services and the role of government.

III.  Tomorrow Chapter 2 Test

A.  Understand the following

• Characteristics of the 3 types of Economies
• Mixed Economy
• Economic Goals and Examples
• Impact of Inflation
• Minimum wage & Trade offs
• Characteristics of Free Enterprise Capitalism (Fig 2.3)
• Modified Free Enterprise Economy
• Roles of Government & Many examples of each

IV. Classwork

• Page 56 Q&A 17-27

Economics W2012