Chapter 1 Slideshow 2
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    Chapter 1 Slideshow 2 Chapter 1 Slideshow 2 Presentation Transcript

    • Chapter 1 Slideshow 2 By: Chris Keyes Principles in Business 3rd
    • Opportunity Cost
      • The opportunity cost is the value of the next best alternative
      • Its an example of you deciding to live in New Jersey than New York
    • College choice
      • An example for going picking a college is weather to go to a university or an community college
      • If u go to an university it is more calm and togather
      • Going to an university is it more spread out and unorganized
    • A job after high school or college
      • Today in the world many students have to decide on college or high school
      • First you have to find the problem of the two
      • Then you have to identify the choices
      • Third you have to evaluate the advantages of the two
      • Then you choose one
      • Then you act on the choice
      • Then you review your decision
    • Command Economy
      • In an command economy the resources are owned and controlled by the government
      • An example of an command economy is Japan
      • I advantage is good school system disadvantage is that you have no rights to your possesions
    • Market Economy
      • In an market economy the resources are owned and controlled by the people in the country
      • U.S is an example of an market economy
      • An advantage is that you can own your own stuff but u have to make big decisions
    • Capitalism
      • Capitalism refers to private ownership of resources by individuals rather than the government
      • U.S is an example of an capitalist
      • Advantage is that it gives individuals freedom
    • Communists Econmy
      • An Communists economy is one who’s leader is in charge of everything
      • Cuba is an example of an communists economy