Thursday, January 4, 2018
E2 INDIVIDUALS AND BUSINESSES IN FREE MARKETS: Free enterprise is a pillar of the United States economy and is based on the principle that individuals and businesses are free to make their own economic choices as they participate
in these markets. Individuals buy the goods and services that they desire from businesses in the product markets, and they contribute to producing these goods and services by supplying the resources that they own to businesses in the markets. This activity is the basis of our private economy, and our governmental spending programs.
Plan of the Day:
It has been said by Mr. Lance Mann,that, at best, "Economists are to the economy as meteorologists are to the weather." Here are some predictive misses brought to us by economists and business people of the past.
Horrible Predictions
ibid
CONTINUE: Economic Values Clarification
1. Retrieve your Economic Values work packet and take 15 minutes in your table group to finish the page entitled "Service" at the top.
New Concept: "Substitution"
in these markets. Individuals buy the goods and services that they desire from businesses in the product markets, and they contribute to producing these goods and services by supplying the resources that they own to businesses in the markets. This activity is the basis of our private economy, and our governmental spending programs.
Plan of the Day:
It has been said by Mr. Lance Mann,that, at best, "Economists are to the economy as meteorologists are to the weather." Here are some predictive misses brought to us by economists and business people of the past.
Horrible Predictions
ibid
CONTINUE: Economic Values Clarification
1. Retrieve your Economic Values work packet and take 15 minutes in your table group to finish the page entitled "Service" at the top.
New Concept: "Substitution"
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