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Chapter One Part Two
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Chapter One Part Two


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  • 1. Chapter one part two Jordan May Economic Decisions and Systems
  • 2. What city should I live in?
    • I can’t decide if I want to live in Raleigh or Chapel Hill
    • Raleigh has more jobs but is bigger
    • Chapel Hill is smaller but I might have a longer commute to work
    • I chose Chapel Hill because I like small towns better than I think the little gas I will save will matter
  • 3. What college should I go to?
    • I can’t decide if I want to go to UNC or wake tech for college
    • If I choose UNC the school is good but it is so expensive
    • Wake tech is less expensive but they don’t offer a masters program
    • I chose UNC because I think a masters degree is more important than the money I save
  • 4. The decision making process (job or college)
    • Define the problem-
    • Identify the choices-get a job or go to college
    • Evaluate the advantages and disadvantages
    • Choose one
    • Act on your choice
    • Review your choice
  • 5. Fly or drive?
    • How can I get to Florida
    • Flying and driving
    • Flying is expensive and fast but driving is inexpensive and takes a little longer
    • I will drive because then I have more to spend in Florida
    • I drove
    • It was a good choice to drive and I had a great time in Florida
  • 6. Command economy
    • the resources are owned and controlled by the government
    • China is a command
    • Good because it is run smoothly
    • Bad because people could slack off
  • 7. Market economy
    • Recourses are owned and controlled by the people
    • Canada is a marked economy
    • Consumers get to “vote" with their dollar
    • Some businesses don’t succeed
  • 8. Capitalism
    • The resources are owned and controlled by the people individually.
    • The USA is a capitalist country
    • Good because people are free to choose weather they want something or not
    • Bad because everything is based on what the people choose
  • 9. communist
    • an economy where the government owns everything and dishes it out to all the people
    • One communist country is North Korea
    • Good because everyone is equal but the government
    • Bad because nobody has to do anything to earn what they have