Reading Notes
1.
●
What goods and services are produced is important to be answered because
of scarcity, a society can’t produce everything it's people might want. It helps
society look at the bigger picture, and figure out what is needed to be
produced to fulfill the people’s wants.
●
How goods and services should be produced should be answered because
because it will help determine what goes into making the product. It
determines the Land, Labor, and Capital should be utilized.
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For whom is the good and services to be produced should be answered
because it is important to figure out who gets what. Producing a variety of
ways so that everyone that can afford a hat can get a hat is also important.
2.
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Economic stability is most important because without stability we have
nothing to go off of. If our economy is unstable then it is harder to produce
goods and no production means no jobs.
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Full employment is next because with more people means more production
and service building up our economy.
●
Economic freedom is next because if the government gets too involved then
we won’t be able to dictate what happens for our economy.
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- Fall '16
- Craig Zupi
- Communism, Economic system, Planned economy
