Intro To Business - Chapter 1

Learning Goal:

1.  Compare three types of economies
2. Describe and explain the characteristics of a market economy

Today We Will:

• Take the Chapter 1 Pre-Test
• Log on to Edmodo.com
• Using the Chapter 1.1 resources here complete the Chapter 1.1 notes
• Thinking Critically:

1. Why have market economies been adopted in many countries throughout the world that formerly had command economies?
2. If you were a citizen in  country that converted from a traditional economy to a market economy, what are some of the changes that you would find in your life compared to life under the former system?
3. What do you think are the positive and negative aspects of the profit motive in a market economy?
4. What are some things that a government can do to help assure that there is fair competition in the marketplace?

Homework:

1. Notes due tomorrow at beginning of the hour!