1. Broad Social Goals

2. Because of scarcity, tradeoffs have to be made among the six primary goals.

3. Getting the most out of one’s resources for the least cost
Efficiency
Getting the most out of one’s resources for the least cost

4. Fair; equal access to goods and services
Equity
Fair; equal access to goods and services

5. Freedom
being able to live and work where you want; owning and controlling your own resources

6. Increasing the amount of goods and services produced in an economy
Growth
Increasing the amount of goods and services produced in an economy

7. Knowing you have a job and can support yourself and your family
Security
Knowing you have a job and can support yourself and your family

8. Level of prices remains about the same
Stability
Level of prices remains about the same

9. Remember…
Throughout this unit, think economically… The regular definition of words like stability, security, and equity are different than their economic definitions.

10. Stand Up & Be Counted
According to your personal beliefs and values, rank the six broad social goals in order of importance (1 being the most important, 6 being the least important)
Be ready to defend your top and bottom choice!!!!!!!!

11. What is our “Utopian Society”?
Based on the chart, what two goals does our class value the most?
Were your personal goals in line with the goals of our class?

12. Today’s Exit Ticket Conflict vs. Complement
Which broad social goals match up with each economic system? Explain your answers.
Market:
Command:

13. Conflict vs. Complement
Which broad social goals match up with each economic system? Explain your answers.
Market: Efficiency, Freedom, Growth
Command: Equity, Security, Stability
Traditional: Security, Stability