1. Goal 8 Economics II Topic 1: Types of Economies Topic 2: Supply/Demand Topic 3: Business Organization Topic 4: Managing Money & Banking Topic 5: Consumer Rights & Responsibilities

2. Topic I: Types of Economies I. Traditional A. Characteristics 1. Example: II. Command A. Characteristics 1. Communism -Karl Marx 2. Socialism 3. Example: III. Market A. Characteristics 1. Example: IV. Mixed A. Characteristics 1. Example:

3. TraditionalCommandMarketMixed Producers Consumers Decision Makers Property Owners Business Owners GDP Per capita Country Ex:

4. Topic II: Supply & Demand I.Demand A. Individual v. Market B. Law of Demand C. Measurement 1. Schedule 2. Curve D. Changes 1. Population 2. Products 3. Substitute 4. Complimentary

8. II. Supply A. Law of Supply B. Measurement A. Schedule B. Curve

9. III. Supply & Demand Competing Together A. Outcome 1. Surplus 2. Shortage 3. Equilibrium Price 4. Price Controls

10. Topic III: Business Organization I.Types A. Sole Proprietorship 1. Needs 2. Good: 3. Bad: B. Partnership 1. Good: 2. Bad: C. Corporation 1. Cooperative D. Franchise 1. Examples: II. Organized Labor A. Labor Unions 1. Types -Labor, Craft, Industrial

11. 2. Better Working Conditions -Collective Bargaining -Mediation, Arbitration -Strike III. Government Involvement A. 1930-40s 1. Social Security Act of 1935 2. National Labor Relations Act of 1935 3. Fair Labor Standards Act of 1938 4. Taft Hartley Act 5. Anti-Trust Laws IV. Organization A. Combining 1. Monopoly, Oligopoly 2. Horizontal Merger, Vertical Merger 3. Conglomerates & MNC

12. Topic IV: Managing Money & Banking I. Personal Income A. Types 1. Wage 2. Salary 3. Disposable 4. Discretionary II. Planning & Budgeting A. Budget 1. Income v. Expenses 2. Purpose B. Credit Option 1. Source 2. Responsibility C. Saving 1. Savings v. Checking Account

13. D. Investment 1. Stocks 2. Dividend 3. Bond 4. Mutual Fund & Pension Funds 5. Insurance Types 6. Capital investment III. Banking System A. Commercial Banks 1. Examples: 2. Time v. Demand Deposit 3. Credit v. Debit Cards B. Credit Union C. Regulations 1. FDIC (Federal Deposit Insurance Corporation) D. Coin, Currency, Checks, Legal Tender

14. Topic V: Consumer Rights & Responsibilities I.Consumer Rights A.Information B. Safety C. Choice in spending $ D. Consumer Bill of Rights Page 540 II. Consumer Responsibility A. Shopping 1. Comparison 2. Report Faulty Products 3. Fair Complaints 4. Don’t Impulse Buy 5. Beware of Advertising B. Credit 1. Sparingly 2. Loans