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Download Objective : Students will determine why the United States is not pure
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Transcript
Objective : Students will determine why the United States is not pure capitalist and identify fiscal policy. Agenda: warm up CE NOTES-review Capitalist/Communist/Socialist Market/Command/Traditional Reading chapter 21-3 Why is the U.S. not pure Capitalist? Because Social Services are provided Why is the US not pure Market? Because of Regulatory Agencies who monitor businesses and the government involvement in the economy. The United States also manages the economy through FISCAL POLICY The President and Congress raise and lower taxes and raise and lower spending to make the economy better: DEPRESSION: A downturn in the economy lasting a long period of time. High unemployment, drop in the amount of goods produced (GDP) RECESSION: A downturn in the economy lasting a short period of time. High unemployment, drop in the amount of goods produced (GDP) If the economy were in a depression or recession the President and the Congress may use Fiscal policy to help the economy get better. For example, in order to get people more money in their pockets, the Congress and President may lower taxes For example, in order to help the people who have lots their jobs, the Congress and President may provide more unemployment benefits The economy always gets better…..this is called THE BUSINESS CYCLE The up and down movement in the economy-from recession –depression-recovery Reading ch 21-3--social services Students will read chapter 21-3 and complete a guided reading activity. NAME__________________________________ Fill in the correct answer: 1. DATE______________ warm up Capitalism This occurs when wants exceed resources__________ 2. The City Council decides to fund the after school programs therefore they lose the chance to fund the summer youth camps__________________ 3. When we use goods or services to satisfy our economic wants__________ 4. Someday CD players will not be sold because consumers will not want to buy them______________ 5. Americans want lots of products, but it cost money to make them in America so we buy them from China. China only pays its workers a few pennies an hour, therefore they are cheaper._____ 6. and How people, individually and in groups choose to use scarce resources to satisfy their wants, how goods services are produced and distributed__________ 7. A company decides to move its factory to Mexico because they can pay people less money to do the same amount of work. ____________________ 8. You make your sister a birthday card instead of buying one at the card store_________ 9. You got $100 for your birthday and you need to choose between getting a new i-pod or a new cell phone. __________________ 10. You chose the cell phone instead of the i-pod______________________ 11. The U.S. Federal Government decides to send more troops to North Korea instead of increasing aid to schools. What is the opportunity cost of the Federal Government’s decision?________________ 12. Which type of economic system provides people with the most freedom?______________________ 13. Which type of economic system is most controlled by the government?_______________________ 14. In a traditional economic system who decides what is produced?_____________________________ 15. In a command economic system who decides what is produced?_____________________________ 16. In a market economic system who decides what is produced?_________________________________ CAPTIALISM/MARKET ECONOMIES What are some positive aspects of Capitalism? What are some negative aspects of Capitalism? public