Economics: Broad Social Economic Goals

Vocabulary

100

Freedom for workers to choose their own jobs, unions. Freedom for those to open new businesses or close old ones. 

What is Economic Freedom

200

When additional benefits exceed the cost

Economic efficiency 

300

Increasing of goods and services over time.

Economic Growth

400

Simply put, it is what's "fair".

Economic Equity

500

Protection against economic risks such as unemployment, business failures and poverty. 

Economic Security

Conflictions of Goals

100

All motorcyclists will be ticketed if they are caught riding without helmets. 

Freedom of Choice and Economic Efficiency

200

Taxing the top 30% of the bracket for more welfare benefits of the bottom 20%

Economic freedom and Economic Equity

300

Free higher education tax on automobiles based on how much horsepower the car contains. 

Economic Equity and Economic Freedom

OR

Economic Equity for opposite views

400

The government orders all citizens to exchange old cars for cash in order to allocate more materials for steel buildings.  

Economic Freedom and Economic Efficiency 

Random

100

What did the pirate dad say on his eightieth birthday?

"Aye Matey"!

200

What is the best way to count cows? 

With a "Cowculator"

300

Your mom is from Cuba, and your dad is from Iceland. What are you?

Ice Cube

400

What do you call a flying bagel? 

A "Plain" bagel

Situations

100

The government decides that automobile frames should no longer be manufactured using steel. Plastic and fiber glass are cheaper, just as safe, and more abundant. More steel is needed for new buildings.

Economic efficiency 

200

Consumers are able to shop at any mall that they wish. They have the freedom to chose what store to go to at the mall. They have the freedom to decide what they want to buy, regardless of how unneeded the product is. 

Economic Freedom

300

A entrepreneur has just purchased the last competing vaccine company. The government halts the purchase, saying it is unlawful. 

Economic Equity

400

The country's economy if failing, and unemployment is at an all time high. The government stimulates the economy by offering government funded construction projects. 

Economic Growth

500

Bob the Builder has been a long time outstanding employee of Nick Jr. He falls off of a bulldozer and is unable to work. He is compensated for his injuries until 

Economic Security