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