Presentation is loading. Please wait.

Presentation is loading. Please wait.

Goals of Economic Systems. Six Goals of any economy 1. Economic Efficiency - Producing the most goods/services possible with limited resources 2. Economic.

Published byThomas Cole Modified over 8 years ago

Similar presentations

Presentation on theme: "Goals of Economic Systems. Six Goals of any economy 1. Economic Efficiency - Producing the most goods/services possible with limited resources 2. Economic."— Presentation transcript:

1 Goals of Economic Systems

2 Six Goals of any economy 1. Economic Efficiency - Producing the most goods/services possible with limited resources 2. Economic Equity - Creating policies that promote fairness and wellbeing 3. Economic Freedom - Freedom to choose: where to live, what to buy/sell, where to work, what businesses to open 4. Economic Growth - Constant increase in the production of goods/services in your country

3 5. Economic Security - Protecting consumers and producers from economic risks - Ex. Loss of jobs, bank failures, natural disasters, etc…. 6. Economic Stability - Steady economic growth, high employment levels, and price stability.

4 What goals are attained with each situation? Explain your answers! 1. Requiring Motorcyclists to wear helmets? 2. Taxes 3. Banning red meat that is imported from Europe for fear of Mad Cow Disease. 4. New welfare rules limiting how much money people can receive.

Download ppt "Goals of Economic Systems. Six Goals of any economy 1. Economic Efficiency - Producing the most goods/services possible with limited resources 2. Economic."

Similar presentations

Economic Systems: Directions

Economic Systems: Directions
Session 2 Economic Systems Disclaimer: The views expressed are those of the presenters and do not necessarily reflect those of the Federal Reserve Bank.

Session 2 Economic Systems Disclaimer: The views expressed are those of the presenters and do not necessarily reflect those of the Federal Reserve Bank.
Economic Systems SSEF4.

Economic Systems SSEF4.
The Circular Flow of the U.S. Economy.  The U.S. economy is divided into three parts households, businesses and government.  Each of these parts rely.

The Circular Flow of the U.S. Economy.  The U.S. economy is divided into three parts households, businesses and government.  Each of these parts rely.
Freedom to make their own economic choices.  to protect people from potential problems that arise from the production of various products or the.

Freedom to make their own economic choices.  to protect people from potential problems that arise from the production of various products or the.
Economic Goals.

Economic Goals.
Evaluating Economic Performance

Evaluating Economic Performance
Economics Chapter 2 REVIEW

Economics Chapter 2 REVIEW
Economic Systems SSEF4 The student will compare and contrast different economic systems and explain how they answer the three basic economic questions.

Economic Systems SSEF4 The student will compare and contrast different economic systems and explain how they answer the three basic economic questions.
Economic Goals and Three Fundamental Questions 1. How do societies choose goals for their economic system? 2. What are the 6 goals of a free market system?

Economic Goals and Three Fundamental Questions 1. How do societies choose goals for their economic system? 2. What are the 6 goals of a free market system?
1 Essential Question: Describe the 6 main goals of the U.S. economy, Select the goal that is most important to you and explain why you feel that way. The.

1 Essential Question: Describe the 6 main goals of the U.S. economy, Select the goal that is most important to you and explain why you feel that way. The.
3 Key Economic Questions. Because economic resources are limited, every society must answer 3 economic questions…..

3 Key Economic Questions. Because economic resources are limited, every society must answer 3 economic questions…..
WARM UP Scenario: What Would You Do? What goods and services will be produced? Of the following, which will you produce for your people? Choose ONLY 4.

WARM UP Scenario: What Would You Do? What goods and services will be produced? Of the following, which will you produce for your people? Choose ONLY 4.
Answering the Economic Questions Economic system  the method used The economic system chosen by a society Three questions to answer: – What goods will.

Answering the Economic Questions Economic system  the method used The economic system chosen by a society Three questions to answer: – What goods will.
Economics Chapter 2. What is an economic system?  Reflects the process or system a nation or society follows to produce goods and services.  Determines.

Economics Chapter 2. What is an economic system?  Reflects the process or system a nation or society follows to produce goods and services.  Determines.
200 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 300 --- --

Market Economies 1. Productive resources are owned and controlled by individuals in the economy. 2. Decisions about how resources are to be used are made.

Market Economies 1. Productive resources are owned and controlled by individuals in the economy. 2. Decisions about how resources are to be used are made.
Economic Systems. What is an economic system? An organized way of providing for the wants and needs of the people. An organized way of providing for the.

Economic Systems. What is an economic system? An organized way of providing for the wants and needs of the people. An organized way of providing for the.
Essential Question: The U.S. Economy at Work SECTION 3

Essential Question: The U.S. Economy at Work SECTION 3
Market and Command Economies

Market and Command Economies

Similar presentations

Ads by Google