Starter What kind of charge does a grand jury bring against an accused person? Who defends a poor person in trial when they cannot afford a lawyer? Where was the US Constitution written and when was it written?

8.03 Circular flow of economics Goal 8- the US Economy

Circular flow of economic activity Three main actors in economics – Households – Businesses – The government All three are interdependent on each other

Three actors Households- Provide labor and act as consumers Businesses- act as producers and consumers – How are businesses consumers? Government- acts as both a consumer and a producer as it promotes structure and regulation.

Economic Flow Chart

Product and Factors Market Product market- where goods are sold for final consumption – Shoes for a jogger, pencil for a student – This is where producers earn a profit Factors market- goods sold to increase production – Capital goods are sold here – This is where producers invest.