Chapter One Part Two
- 1. Chapter one part two Jordan May Economic Decisions and Systems
- 2. What city should I live in? I can’t decide if I want to live in Raleigh or Chapel Hill Raleigh has more jobs but is bigger Chapel Hill is smaller but I might have a longer commute to work I chose Chapel Hill because I like small towns better than I think the little gas I will save will matter
- 3. What college should I go to? I can’t decide if I want to go to UNC or wake tech for college If I choose UNC the school is good but it is so expensive Wake tech is less expensive but they don’t offer a masters program I chose UNC because I think a masters degree is more important than the money I save
- 4. The decision making process (job or college) Define the problem- Identify the choices-get a job or go to college Evaluate the advantages and disadvantages Choose one Act on your choice Review your choice
- 5. Fly or drive? How can I get to Florida Flying and driving Flying is expensive and fast but driving is inexpensive and takes a little longer I will drive because then I have more to spend in Florida I drove It was a good choice to drive and I had a great time in Florida
- 6. Command economy the resources are owned and controlled by the government China is a command Good because it is run smoothly Bad because people could slack off
- 7. Market economy Recourses are owned and controlled by the people Canada is a marked economy Consumers get to “vote" with their dollar Some businesses don’t succeed
- 8. Capitalism The resources are owned and controlled by the people individually. The USA is a capitalist country Good because people are free to choose weather they want something or not Bad because everything is based on what the people choose
- 9. communist an economy where the government owns everything and dishes it out to all the people One communist country is North Korea Good because everyone is equal but the government Bad because nobody has to do anything to earn what they have