Economic Goals of Governments Ms. Ramos Alta Loma High School.
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Transcript of Economic Goals of Governments Ms. Ramos Alta Loma High School.
Economic Goals of Governments
Ms. RamosAlta Loma High School
How do societies decide?
A society’s answers depends on its economic goals
Ms.Ramos
Freedom Efficiency
Equity Growth Security Stability
Economic Goals(Not all may be addressed by a govt)
Ms.Ramos
Freedom
Ability of people to make their own economic decisions
Ms.Ramos
Efficiency
Make most of resources, least amt of waste Includes workers
Full employment
Ms.Ramos
Equity
Fairness & just distribution of society’s wealth What is fair?- often
debated
Ms.Ramos
Growth
Produce more G&S Leads to improved
standard of living KEY---- science &
technology
Ms.Ramos
Security
Provide for less fortunate Food, shelter,
healthcare Also debated
Ms.Ramos
Stability
G&S we count on are available Elec, food, clothing,
jobs, prices
Ms.Ramos
Who decides what in different economic systems?
Insert markets handout here in your notes
Ms.Ramos
3 Economic Systems
Traditional Economies Decisions by custom
Command Economies Decisions by pwrful rulers
Market Economies Decisions by individuals
Ms.Ramos
Capitalism gives rise to Socialism- Closer Look: Soviet Union 1st modern command economy Communist–-- authoritarian
(social goal by force) Economic planning by govt
Shortages common…lines Lack of choice Ignore incentives…work/products
inferiorMs.Ramos
How do mixed economies divide the decision making?
No Pure Economies!!! All are mixed to varying degrees
Ms.Ramos
All govts: Legal Law enforcement Currency Regulations (food, work) –
vary Public Goods (dams, roads,
hospitals)Ms.Ramos
Circular Flow Model
http://dreamofbiz.blogspot.com/2007/09/economic-problem-scarcity-wants-and.html Ms.Ramos
Circular Flow in a Mixed Economy
•kisdwebs.katyisd.org/campuses/THS/teacherweb/.../CircFlowModel.ppsx Ms.Ramos
http://02b8223.netsolhost.com/blog/wp-content/uploads/2008/10/index2007_econfreedommap.jpg Ms.Ramos