Economics Oswego经济学奥斯威戈.pptVIP

SECTION Benefits of Free Enterprise What are the basic principles of the U.S. free enterprise system? What role does the consumer play in the system of free enterprise? What is the role of the government in the free enterprise system? The Basic Principles of Free Enterprise The Consumer’s Role The Government’s Role Section 1 Assessment 1. Americans generally favor (a) strong government control of the economy. (b) limited government intervention in the economy. (c) no government intervention in the economy. (d) government control of manufacturing only. 2. The basic principles of free enterprise do NOT include (a) competition. (b) legal equality. (c) profit motive. (d) checks and balances. Section 1 Assessment 1. Americans generally favor (a) strong government control of the economy. (b) limited government intervention in the economy. (c) no government intervention in the economy. (d) government control of manufacturing only. 2. The basic principles of free enterprise do NOT include (a) competition. (b) legal equality. (c) profit motive. (d) checks and balances. Promoting Growth and Stability How does the government track and seek to influence business cycles? How does the government try to promote economic strength? Why and how does the government encourage innovation? Tracking Business Cycles Macroeconomics is the study of the behavior and decision making of entire economies. A business cycle is a period of a macroeconomic expansion followed by a period of contraction. One measure of a nation’s macroeconomy is gross domestic product (GDP). GDP is the total value of all final goods and services produced in a particular economy. Promoting Economic Strength Employment One aim of federal economic policy is to provide jobs for everyone who is able to work. Growth For each generation of Americans to do better than previous ones, the economy must grow to provide additional goods and services. Stability Stability gives consumers, producers, and investors confidence in