Economic Systems
The way in which a society decides how to use its resources to produce and distribute goods/services
What is an economic system?
Meaning of the phrase, "There is no such thing as a free lunch."
What is "someone pays for it somewhere"!
(farmers, transportation, prep, services, etc)
Wearing number 88, this star wide receiver is known for his big-play ability and highlight-reel catches.
Who is CeeDee Lamb?
The second best alternative
What is Opportunity Cost?
Individual people and businesses decide what, how, and how much to produce and distribute
What is a Market Economy? (examples?)
And why isn't the U.S. an example of a pure Market Economy?
Not enough resources to produce all the "stuff" everyone would like to have
What is scarcity?
Before being traded, this pass rusher was one of the Cowboy's most feared defensive players.
Who is Micah Parsons? (Bonus: Where is he playing now?)
A model that shows alternative ways an economy can use its scarce resources
What is PPC? (Bonus: What does this stand for?)
A system in which the government owns, controls, and decides what goods a country will produce
What is a Command Economy? (example?)
Factors of production and example of each
What are land, labor, capital, and entrepreneurship?
This Hall of Fame quarterback led Dallas to three Super Bowl victories in the 1990s.
Who is Troy Aikman
Can cause a shift of the PPC (3)
What are changes in resource quantity/quality, changes in technology, or changes in trade.
An economic system based on customs (Amish)
What is a traditional economy? (another example?)
Three basic economic questions
What are What to produce, How to produce, and For Whom to produce
2026 first round picks (2)
Who are Caleb Downs (safety, 11th pick) and Malachi Lawrence (edge rusher, 23rd pick)
What you'll miss the most at Craig
Your teachers, of course! :)
Has some features from a variety of economic systems
What is a Mixed Economic System? (Example?)
Four types of goods
What are consumer, capital, durable, and non-durable goods?
Cowboys fans often say, "This is our year!" before the start of every season.
What is optimism. :)
Where you'd like to go first with Matteo once home
Whatever you choose is great!