Quarter 3 Week 5

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textbook questions

Chapter 3
Define the following terms
1. Profit motive
2. Open opportunity
3. Private property rights
4. Public disclosure laws
5. Macroeconomics
6. Microeconomics
7. Gross domestic product
8. Business cycle.
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economic systems

After working your way through the presentation: go to the turn in page and discuss 3 important things you learned about the GDP
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consumer safety

Click on the link and then "consumer product safety commission". scroll to the middle of the page and click search then on the right side choose a category that interests you and ... then click on any 3 that look interesting to you and summarized the following for each toy you picked:
1. name of the product
2. hazard
3. remedy
A Demonstration of a Free Market Economy

free market

After viewing the video, write a short paragraph about how a free market economy works !!
Should We Raise The Minimum Wage?

minimum wage

after viewing the video, discuss the pros and cons of raising the minimum wage
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textbook questions

Chpt 3

1. What constitutional guarantees underlie the American free enterprise system?
2. Explain at least 3 benefits of the free enterprise system.
3. What does GDP tell economist about business cycles?
4. Give one example of a new technology that has resulted in greater productivity for the US.
5. Why is a free rider a type of market failure?
6. Is the criminal justice system(police and courts) a public good? Explain.
7. Why does povery exist in a free market economy?
8. What is the difference between cash transfers and in-kind-benefits?
9. How is Social Security an example of income redistribution?