Broad Social Goals Of an Economic System

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Presentation transcript:

Broad Social Goals Of an Economic System

The Problem: All resources are scarce so people, businesses, and Countries have to make choices Countries make Economic Systems to try and best address this issue No System is perfect The policies a country adopts reflect the impotence the nation puts on different broad social goals. People do not agree which goals are the most important

Broad Social Goals Economic Efficiency Economic Equity Economic Freedom Economic Growth Economic Security Economic Stability

Time to think… You have 120 points to divide among the 6 goals. Decide, by giving each goal a numerical value, decide which you think are the most important Note: I know some of you may think this is simple, just give each goal 20 points…BUT it is very difficult for a country to meet all of these goals equally, because some goals come at the expense of others.

Discuss in your pods, how you divided your points Time to discuss Discuss in your pods, how you divided your points How easy do you think it is for a country to decide?

Group Activity In your groups, read the diary entry, and determine which economic goals are given the highest priority in the society in which the student lives.

Discussion how does this look in real life? Motorcycles riders must wear helmets in certain states Taxes Importation of red meat from Europe Other Examples?