- Slides: 12
The United States Economy
The United States Economy: The United States Economy is a ______ Economy.
The United States Economy: In the United States, ______________, ______ and _______ share economic decision making.
The United States Economy: Markets (the buying and selling of goods and services) are generally allowed to operate without undue interference from the _______.
The United States Economy: Prices are determined by _____ and _____ as buyers and sellers interact in the marketplace.
The United States Economy: ________: Individuals and businesses have the right to own personal property as well as the means of production without undue interference from the government.
The United States Economy: ____: Earning after all expenses have been paid. Most people start businesses to earn a profit.
The United States Economy: _______ Rivalry between producers and/or between sellers of a good or service. It usually results in ____ quality goods and services at ____ prices.
The United States Economy: ______________: Consumers determine through purchases, what goods and services will be produced. Government involvement in the economy is _____. Most decisions regarding the production of goods and services are made in the ______ sector.
Processing Activity Using your notes, complete the processing activity.
Divide your paper in ½ and illustrate 2 of the 6 characteristics of the United States Economy. Label each illustration and be sure to use color. • Markets • Price • Profit • Private Property • Competition • Consumer Sovereignty