Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Go #15 u.s. economy 2011 2012


Published on

Published in: Business, News & Politics
  • Be the first to comment

  • Be the first to like this

Go #15 u.s. economy 2011 2012

  1. 1. GO# 15 U.S. Economy The U.S. economy is primary a free market economy; but because there is some ________________ involvement it is characterized as a ____________________Markets are generally allowed Private Property: Individuals Profit:to operate without and businesses have the right to own real and personal property as well as the means ofPrices are determined by supply production witoutand demand as buyers andsellers interact in themarketplace. Competition: Consumer Sovereignty: Consumers determine through purchases what goods and services will be produced. Government involvement in the economy is limited. Most decisions regarding the production of goods and services are made in the private sector._____________________________________________________________________________________ Circular Flow_______________, _______________ and _______________, and _______________ flow continuouslyamong _______________, _______________, and _______________ in the U.S. Economy. * * * *
  2. 2. Private Financial Institutions Private financial institutions act as _______________________ between ________ and borrowers that include households and business investors. Business Organization There are three basic ways that businesses organize to earn profits. Proprietorship Partnership CorporationEntrepreneur Global Economy Reasons that states and nations tradeVirginia and the U.S. Specialize in the production of certain goods and services, which promotesefficiency. Impact of technological innovations