1.What is the Fundamental Economic Problem?
2.Scarcity
3.Supply
4.Demand
5.Market Economy, Traditional economy, Command economy
6.Gross Domestic Product
7.economic freedom to make own decisions
8.econ efficiency for greater benefits than costs
9.Economic equity…a social goal to support laws against wage and job discrimination
10.Full employment
11.Econ security for the elderly, workers losing jobs etc.
12.Price Stability, freedom from inflation …protects people on limited income
13.Econ growth to increase goods and services to all
14.Value; Paradox of Value
15.Utility and Wealth
16.Education and Income
17.Trade offs,
18.Opportunity Cost
19.Traditional Economies, Command Economies, Market Economies
20.Capitalism and Free Enterprise p. 46-48
21.Role of the Government p. 50
¢Third world country
¢externalized costs,
¢planned obsolescence,
¢perceived obsolescence
¢Work, watch, spend….
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