Loading presentation...

Present Remotely

Send the link below via email or IM

Copy

Present to your audience

Start remote presentation

  • Invited audience members will follow you as you navigate and present
  • People invited to a presentation do not need a Prezi account
  • This link expires 10 minutes after you close the presentation
  • A maximum of 30 users can follow your presentation
  • Learn more about this feature in our knowledge base article

Do you really want to delete this prezi?

Neither you, nor the coeditors you shared it with will be able to recover it again.

DeleteCancel

Make your likes visible on Facebook?

Connect your Facebook account to Prezi and let your likes appear on your timeline.
You can change this under Settings & Account at any time.

No, thanks

2.3 Capitalism and Economic Freedom

Chapter 2 Economic Systems and Decision Making Section 3 Capitalism and Economic Freedom
by

Jason Johnsey

on 24 January 2013

Comments (0)

Please log in to add your comment.

Report abuse

Transcript of 2.3 Capitalism and Economic Freedom

Chapter 2 Section 3
Capitalism and Economic Freedom Standards: 1.1, 1.2, 2.1, 2.2, 2.3, 2.4, 3.3, 4.2, 5.1, 6.2, 6.3

Objective:
identify how under capitalism, the three basic economic questions are made by interactions between businesses and consumers 3 Different types of Political and Economic Systems: Socialism Capitalism Communism Socialism- political and economic system in which the government owns some BUT NOT ALL factors of production Capitalism- Political and economic system in which private citizens own and control the factors of production Communism- political and economic system in where ALL factors of production are collectively owned by the central authority Free Enterprise- CAPITALISTIC economy in which competition is allowed to flourish with a minimum of government interference 5 Characteristics of Free Enterprise Economic Freedom Voluntary Exchange Competition Private Property Rights Profit Motive Communism- political and economic system in where ALL factors of production are collectively owned by the central authority Communism- political and economic system in where ALL factors of production are collectively owned by the central authority Communism- political and economic system in where ALL factors of production are collectively owned by the central authority Economic Freedom- freedom to choose your occupation, your employer, your job location Voluntary Exchange- the act of buyers and sellers freely and willingly engaging in market transactions Private Property Rights- allows people to own and control their possessions Profit Motive- encourages people and organizations to improve their material well-being Competition- struggle amongst sellers to attract consumers Communism- political and economic system in which the central authority owns ALL factors of production Socialism- political and economic system in which the government owns some BUT NOT ALL factors of production Capitalism- political and economic system where private citizens own the factors of production Which characteristic holds the other characteristics together? What do you think drives capitalism? Competition 3 Different Roles you will find in a Free Enterprise Role of the Consumer When you go shopping, you are helping to answer the question "WHAT to produce?" Role of the Entrepreneur One of the most important roles in Free Enterprise Role of the Government How big of a role do you think government plays in our lives? 4 Roles that the Government Plays Protector- enforcing laws against misleading advertising, unsafe food and drugs, unsafe automobiles Provider- national defense, education, highways, public welfare Regulator- preserving competition, oversees communications, interstate commerce, banking and nuclear power Consumer- second largest consuming unit in the economy
Full transcript