Economics

Topic 2: Free Enterprise & Other Economic Systems

Topic 2: Lesson 1-7 Key Terms

https://quizlet.com/313921499/topic-2-lesson-1-7-key-terms-flash-cards/

The Pencil & Free Market

Milton Friedman points out the remarkable degree of cooperation between people from many different countries, who’ve never even met, to make what appears to be a very simple product – a pencil. The free market encourages cooperation between strangers. And the end result is that we all benefit – in this case, by having pencils to use .

Warren Buffett's 5/25 Rule

What is important to you?

Think W.I.N.

What's Important Now

Win-Win - A Trading Game

Knowing the 5'P of Trade

1. Property

2. Personal Preference

3. Personal Freedom

4. Protectionism

5. Prosperity/Well Being

Free Enterprise, Economic Choice, & Economic Freedom

Topic 2 Lesson 3

Centrally Planned Economics

Here is a short video about the similarities and differences between Command Economy and Market Economy. Khan Academy also discusses how a Mixed Economy functions inbetween the two economic systems.

Topic 2.4: Mixed Market Economies

Calculating GDP

Topic 2 Lesson 5

Benefits of a Free Market Economy

Discussion of the Theory "Tragedy of the Commons" with 2 vs 6 points activity

Topic 2 Lesson 6

Supporting Economic Growth

What is GDP and its effects?

Topic 2: Lesson 1-7 Key Terms (adjusted for test)

https://quizlet.com/329093188/topic-2-lesson-1-7-key-terms-2-flash-cards/

Topic 8.1 Understanding Taxes

Now that we have completed all the sections to Pearsons Personal Finance Handbook and Worksheet, it is time to learn how to pay your taxes. This will begin with filling out a W-4. This IRS form will be used for all wage earning jobs.

Older NAFTA Debate from 2014

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