Bell Ringer – 2/5/09 1. Why isn’t the United States considered a “traditional economy”? 2. Give two examples of command economies from World History 3. Why makes the U.S. a capitalist nation?

The U.S. Economy Based on the market model, which is driven by individuals Based on the market model, which is driven by individuals Americans are free to exchange goods and services Americans are free to exchange goods and services Choose own jobs Choose own jobs Own & operate businesses Own & operate businesses

Free Enterprise System under which business can be conducted freely with little government intervention System under which business can be conducted freely with little government intervention Prices respond to competition (a benefit?) Prices respond to competition (a benefit?)

Chicago Financial Statistics Median household income - $43,373 Median household income - $43,373 Income change over time – 60% increase since 1990 Income change over time – 60% increase since 1990 Auto insurance premiums - $722 Auto insurance premiums - $722 Median home price $238,567 Median home price $238,567 Home price gain (2-5 year gain) 12.16% Home price gain (2-5 year gain) 12.16%

Real Estate Agent Assignment Read pg. 31 to understand the basics of a Real Estate career Read pg. 31 to understand the basics of a Real Estate career Write a sample interview for a Real Estate Agent seeking a job OR put together a sample showing of a house or condo with a Real Estate Agent and buyers. Write a sample interview for a Real Estate Agent seeking a job OR put together a sample showing of a house or condo with a Real Estate Agent and buyers. Be ready to perform your skit to the class! Be ready to perform your skit to the class!

Homework Pg 42 “Identifying” and “Understanding” Pg 42 “Identifying” and “Understanding” Worksheet Worksheet Real Estate Skit Real Estate Skit