Economics – 9/30/13

I. Bellwork: Q&A

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

1. Environmental Protection Agency
2. Law Enforcement
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 in the economy.
• Determine the meaning of words and phrases as they are used in a text.

III.  Tomorrow Chapter 2 Test

A.  Understand the following

• Characteristics of the 3 types of Economies – Figure 2.1
  • 2.1 Flashcards
• Mixed Economy-Figure 2.2
  • 2.2 Flashcards
• Bovine Governmental Philosophies
• Economic Goals and Examples – See your notes
• Impact of Inflation
• Minimum wage & Trade offs
• Characteristics of Free Enterprise Capitalism (Fig 2.3)
  • HOW ECONOMIC FREEDOM LEADS TO PROSPERITY
• Consumer’s Role in the Economy
• Entrepreneur’s role in the Economy
• Modified Free Enterprise Economy
• Roles of Government & many examples of each
  • 2.3 Flashcards

IV.  Classwork

• A.  Page 56 Q&A 17-27

Economics F2013