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ECONOMIC GOALS

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by

michelle ashmore

on 9 September 2016

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Transcript of ECONOMIC GOALS

ECONOMIC GOALS
nations have different goals based on their Economic System
(how they answer the 3 basic questions).

NOT ALL GOALS ARE IMPORTANT TO ALL NATIONS!
FREEDOM
choice of job, what to buy, where to locate business, how to use resources
EFFICIENCY
Use resources wisely to increase productivity


known as "economies of scale"
EQUITY
Equal opportunity for all

NOT equal for everyone... but equal chance to succeed
GROWTH
increase the standard of living
SECURITY
protection for producer, consumer,
and resources
FULL EMPLOYMENT
low unemployment, people have jobs
(the opportunity for jobs ...
not necessarily the "perfect" job)
STABILITY
even and steady
growth and prices
average of how much a person can consume in a period of time.
nations will improve
HUMAN CAPITAL to raise standard of living!
Price Stability
When prices in an economy don't change much over time.

-- no inflation
(decrease in $ value).

more education =
more $ =
able to consume more!
Full transcript