Businesses are consumers as well as producers.
As consumers, they use land, labor, natural resources and capital to tun them into goods
As producers, they provide households with goods and services.
Producers- provide households w
Use the monetary policy of open market operations to solve a recession
Widgetville is a country with approximately 25 million people living inside its borders.
The country has a rich supply of diamond mines.
Widgetville is located in South
Individuals own the Four Factors of Production.
4. Entrepreneurial Ability
Individuals answer the 3 basic economic questions
Government has little involvement in the economy.a.k.a. Laissez-Faire (Let it be)
Economics Standard 2:
Personal Finance Standard 2:
Payment options/Mechanics of Money Management
Why Should I Save and Invest?
A. Compounding that works for you
B. Savings and investing options
C. Relationship between Risks
Use the monetary policy of the discount rate to solve inflation
1.Use the monetary policy of the reserve requirement in order to solve this current
problem of high inflation
2. How will this discount rate change affect the willingness of banks t
Householders are consumers- they buy goods and services.
They are also producers, their labor and their investments enable businesses to create
goods and services.
Many individuals try to save money.
The money that they save or invest is used to expand th
Factors of Production
All resources can be classified as:
Land, Labor, Capital, Entrepreneurial Ability, Called the 4 Factors of Production
They are the resources used to make products.
Natural Resources resources that come from the Earth
To some degree, all modern economies exhibit characteristics of both systems and are
often referred to as mixed economies.
Most economies are closer to one type of economic system than another
Businesses own most resources and determine w
Economic and Personal Finance Standards
I. Why do some nations succeed and others fail as they move from
command to market economies?
Economic Goals & Issues Analysis
B. Opportunities and Consequences of Command & Market Economies
C. Personal Goals & the
Money Supply and Demand
1. If you use Loose-Money policy you are trying to grow the economy and create more
jobs by increasing the money supply.
In reality the FED would do this by lowering the reserve requirement, buying government
bonds and securities t