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  • Home
  • About
  • Student Portal
    • Physical Science
    • Biology
    • Chemistry
    • Physics
    • Algebra Series
    • Human Anatomy & Physiology
    • Principles of Engineering
    • Civil Engineering & Architecture
    • Economics
    • Business Management & Ownership
  • CLASS CALENDAR
  • CLASS FEES
  • POLICIES / HANDOUTS
  • Contact

Unit 5
What is the Economic Problem?

Class preparation
Read chapter 5 "What is the Economic Problem"

Lecture outline
What are our National economic goals?
  1. Low unemployment
  2. Low inflation
  3. Steady GDP growth
  4. A level playing field (opportunity for all)
Consider three National economic questions:
  1. What should we produce?
  2. How much should we produce?
  3. For whom should we produce?
Market Economies vs. Command Economies
5._lecture_-_the_economic_problem1.ppt
File Size: 367 kb
File Type: ppt
Download File

Communism: The Soviet Story
Read the homework instructions, and watch the 30-min. video below - which is synched to the homework questions
communism_-_the_soviet_story - homework instructions.docx
File Size: 16 kb
File Type: docx
Download File

Homework questions (8 questions, 100 points total)
Ch. 5 end of chapter "Content Questions" (7 questions)
....plus.....
Review Question:  “Your chocolate-covered jalapeno business has been going great! You pick up the phone and call your chocolate supplier – ‘Sinful Chocolate Company’ – and demand a better supply arrangement from them, as follows: $5/lb up to 100 lbs, $4/lb from 100 to 200 lbs., and $3/lb above 200 lbs. Sally, the owner of Sinful, accuses you of violating the “Law of Supply” and rudely ends the phone call. Is Sally correct?”  You may need to review the lecture slides posted in Unit 4, and Ch. 4 of the text. Give this some thought in light of what we have learned!
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