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Transcript of 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!
choice of job, what to buy, where to locate business, how to use resources
Use resources wisely to increase productivity
known as "economies of scale"
Equal opportunity for all
NOT equal for everyone... but equal chance to succeed
increase the standard of living
protection for producer, consumer,
low unemployment, people have jobs
(the opportunity for jobs ...
not necessarily the "perfect" job)
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!
When prices in an economy don't change much over time.
-- no inflation
(decrease in $ value).
more education =
more $ =
able to consume more!