The Chapter 2 Quiz has been moved to Thursday, October 4.
To access the Chapter 2 Flashcards, click here: https://www.flippity.net/fc.asp?k=13ZnGiV8KAN3Xo_EZpxz916Kp-jPUInRAAkmtCmfRX9U
Chapter 2 Learning Targets
| Learning Target #4: I can describe the ways government can impact the market and explain how economic incentives affect government decisions. |
- Compare and contrast economic security and economic equity.
- Categorize social programs (EX: Medicaid/Medicare/Social Security) and pieces of legislation (EX: Americans with Disabilities Act, minimum wage) into whether it provides economic security or economic equity.
| Learning Target #5: I can describe inflation, unemployment, output, and growth, and the factors that cause changes in those conditions. |
- Define inflation.
- Describe the causes and effects of inflation.
- Explain the effects of inflation on labor, consumers, and government spending.
- Describe the concept of voluntary exchange.
- Analyze inflation line graphs.
| Learning Target #7: I can explain the role that economic systems play in the production, distribution, and consumption of goods and services. |
- Identify the advantages and disadvantages of each type of economic system: traditional, command, and market.
- Provide examples of each type of economy: traditional, command, and market.
- Classify the United States into one of the three types of economies.
- Compare the purpose of government in a command economy vs. a market economy.
- List the characteristics of free enterprise capitalism.
- Explain why consumers determine what is bought and sold in a free enterprise capitalism.
- Describe the role of competition and profit in capitalism.