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Chapter One Part Two


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Chapter One Part Two

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