1. SSEF4: Social and Economic Goals

2. 6 Social and Economic Goals
Efficiency
Equity
Freedom
Growth
Stability
Security

3. Efficiency Produce what people want and need
Use limited resources to produce as much as possible

4. Equity
Fairness
Ensure everyone in society receives certain goods/services
Job
Housing

5. Freedom Free to choose What to buy and sell Where to work and live
Open or close a business
Save or spend money

6. Growth Increases in overall society production of goods and services
Increases standard of living for population
Comes from investment in capital resources/goods
EX:
2011
2012

7. Security
Desire to protect consumers and producers from risks that they can’t control
EX: job loss, disability, business and bank failure, natural disaster
Insurance and government programs offer protection

8. Stability
Steady economic growth
Employment stability
Price stability