1. Random Wal-Mart Facts
Wal-Mart is the biggest employer in 25 states. They set the standard for wages and labor practices.
The Walton family is worth about $102 billion
Wal-Mart was sued 4,851 times in 2000––or about once every 2 hours, every day of the year. Wal-Mart lawyers list about 9,400 open cases,” according to a report published in the August 14, 2001, USA Today newspaper.

2. Chapter 18, Section 3 Being an Economically Smart Citizen

3. Main Idea
In a market economy, people and businesses act on their own best interests.

4. The products offered and their prices affect our decision making.
Understanding your economic role
The U.S has a market economy.
Market Economy- Most economic decisions are made by individuals not by the government.
The products offered and their prices affect our decision making.

5. ***A market economy is based on capitalism***
D. Capitalism- system in which citizens own most of the means of production.
E. Free Enterprise- Businesses compete for profit without government interference.

6. F. Incentives- rewards offered to try to persuade people to make economic choices.
***The government has an important role to help maintain a competitive market.***
G. Competition in goods forces better produced products and lower prices.

7. II. Making Wise Choices (pages 418-419)
A. Rational Choice- choosing the alternative that has the greatest value.
B. Wise decision making benefits society so we make the best use of our scarce resources.
***Being fully informed is the best way to make the best economic as well as political decision***

8. Mini Quiz!!! The Bravery – Time wont let me go
1. What type of economy do we have in the U.S?
2. What is capitalism?
3. What is a free enterprise system?
4. What are incentives?