1. ECON 102.3 THE U.S. ECONOMY AT WORK OBJECTIVES: DESCRIBE HOW NATIONS USE SCARE RESOURCES LIST AND DEFINE MAJOR GOALS OF THE US ECONOMY EXPLAIN WHY ECONOMIC GOALS SOMETIMES CONFLICT

2. ECON 102.3 DICTIONARY FULL EMPLOYMENT FULL EMPLOYMENT PRICE STABILITY PRICE STABILITY STANDARD OF LIVING STANDARD OF LIVING

3. SOMETHING TO THINK ABOUT SHOULD THE U.S. GOVERNMENT PROVIDE HEALTH-CARE COVERAGE TO ALL U.S. CITIZENS? SHOULD THE U.S. GOVERNMENT PROVIDE HEALTH-CARE COVERAGE TO ALL U.S. CITIZENS? TAKE A MINUTE, THINK ABOUT IT, WRITE YOUR RESPONSE, SHARE WITH YOUR PEERS, BE PREPARED TO SHARE WITH US ALL TAKE A MINUTE, THINK ABOUT IT, WRITE YOUR RESPONSE, SHARE WITH YOUR PEERS, BE PREPARED TO SHARE WITH US ALL

4. U.S. ECONOMIC GOALS IN THE U.S., THERE ARE 6 MAJOR GOALS FOR THE ECONOMY: IN THE U.S., THERE ARE 6 MAJOR GOALS FOR THE ECONOMY:---FREEDOM---EFFICIENCY---EQUITY---SECURITY---STABILITY---GROWTH

5. ECONOMIC FREEDOM MAINTAINING FREEDOM OF CHOICE IN THE MARKETPLACE. MAINTAINING FREEDOM OF CHOICE IN THE MARKETPLACE. CONSUMERS CAN BUY WHAT THEY WANT WORKERS CAN SPEND THEIR WAGES ON WHAT THEY WANT INVESTORS CAN INVEST IN WHAT THEY WANT ENTREPRENUERS CAN OPEN ANY BUSINESS THAT THEY WANT. IT IS ALL UP TO YOU

6. ECONOMIC EFFICIENCY HOW TO MAKE THE MOST OUT OF WHAT YOU HAVE HOW TO MAKE THE MOST OUT OF WHAT YOU HAVE HOW MANY GOODS AND SERVICES A NATION CAN CREATE HOW MANY GOODS AND SERVICES A NATION CAN CREATE

7. ECONOMIC EQUITY DEALS WITH THE IDEA OF RIGHT AND WRONG DEALS WITH THE IDEA OF RIGHT AND WRONG IS A PARTICULAR ACTION FAIR AND JUST TO ALL THE PEOPLE INVOLVED IS A PARTICULAR ACTION FAIR AND JUST TO ALL THE PEOPLE INVOLVED DO WE HAVE AN EXAMPLE?????? DO WE HAVE AN EXAMPLE??????

8. ECONOMIC SECURITY GOAL OF GOVERNMENT OR INDIVIDUAL IS TO PROTECT ITS MEMBERS FROM POVERTY, BUSINESS AND BANK FAILURES, MEDICAL EMERGENCIES, AND OTHER SITUTATIONS THAT COULD HARM THE ECONOMIC SYSTEM GOAL OF GOVERNMENT OR INDIVIDUAL IS TO PROTECT ITS MEMBERS FROM POVERTY, BUSINESS AND BANK FAILURES, MEDICAL EMERGENCIES, AND OTHER SITUTATIONS THAT COULD HARM THE ECONOMIC SYSTEM

9. ECONOMIC STABILITY ECONOMIC STABILITY HAS TWO FACETS ECONOMIC STABILITY HAS TWO FACETS 1. FULL EMPLOYMENT 1. FULL EMPLOYMENT 2. PRICE STABILITY 2. PRICE STABILITY

10. ECONOMIC GROWTH AN ATTEMPT TO INCREASE THE AMOUNT OF GOODS AND SERVICES CREATED BY A GIVEN INDIVIDUAL. AN ATTEMPT TO INCREASE THE AMOUNT OF GOODS AND SERVICES CREATED BY A GIVEN INDIVIDUAL. OVERALL INCREASE IN THE STANDARD OF LIVING OVERALL INCREASE IN THE STANDARD OF LIVING

11. NOW THAT YOU UNDERSTAND THE 6 GOALS, WOULD YOU CHANGE YOU ANSWER TO THE HEALTH-CARE QUESTIONS? WOULD YOU CHANGE YOU ANSWER TO THE HEALTH-CARE QUESTIONS? YOUR ANSWER IS YES!! YOUR ANSWER IS YES!! RE-ANSWER THE QUESTION BUT THIS TIME HOW WOULD YOU ADDRESS EACH OF THE SIX GOALS. RE-ANSWER THE QUESTION BUT THIS TIME HOW WOULD YOU ADDRESS EACH OF THE SIX GOALS.

12. ECONOMIC GOALS AND TRADE- OFFS SCARCITY FORCES INDIVIDUALS, BUSINESSES, AND GOVERNMENTS TO MAKE CHOICES AMONG VARIOUS NEEDS AND WANTS. SCARCITY FORCES INDIVIDUALS, BUSINESSES, AND GOVERNMENTS TO MAKE CHOICES AMONG VARIOUS NEEDS AND WANTS. IN ORDER TO MAKE THESE CHOICES 4 IDEAS MUST BE EXAMINED KEEPING IN MIND THE 6 GOALS: IN ORDER TO MAKE THESE CHOICES 4 IDEAS MUST BE EXAMINED KEEPING IN MIND THE 6 GOALS: 1. YOU MUST PRIORITIZE 1. YOU MUST PRIORITIZE 2. TAKE INTO ACCOUNT PRIORITIES CAN CHANGE 2. TAKE INTO ACCOUNT PRIORITIES CAN CHANGE 3. PRIORITIES OFTEN COME INTO CONFLICT 3. PRIORITIES OFTEN COME INTO CONFLICT 4. SOLUTIONS CAN CONFLICT 4. SOLUTIONS CAN CONFLICT