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Economic Decisions Chapter 1 Summary

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Camilla Grandgeorge

This document provides an overview of economic concepts including needs and wants, goods and services, factors of production, different types of economies, supply and demand, gross domestic product, unemployment, inflation, and alternative energy sources. It discusses how the United States has a mixed economy and covers topics like the national debt, oil production/consumption, and different views on drilling for oil in Alaska.

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Economic Decisions Chapter 1
Economics ,[object Object]
Needs ,[object Object],[object Object],[object Object],[object Object]
Wants ,[object Object]
Worksheets ,[object Object],[object Object]
Unlimited Wants ,[object Object],[object Object],[object Object],[object Object],[object Object]
WORKSHEET ,[object Object],[object Object],[object Object],[object Object]
Needs & Wants ,[object Object],[object Object],[object Object]
Goods ,[object Object],[object Object],[object Object],[object Object],[object Object]
Name Goods ,[object Object]
Iowa Falls Business ,[object Object],[object Object],[object Object]
Services ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Services ,[object Object]
Iowa Falls Business ,[object Object]
Worksheet ,[object Object],[object Object]
Economic Resources ,[object Object],[object Object],[object Object],[object Object],[object Object]
Economic Resource #1 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Countries ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Internet - Country Research ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Power Point of Countries ,[object Object],[object Object]
Economic Resource # 2 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
What Determines Amount of Wages Jobs Pay? ,[object Object],[object Object]
How much money? ,[object Object],[object Object]
Economic Resource #3 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Money is Considered a Capital Resource ,[object Object],[object Object],[object Object],[object Object]
Worksheet ,[object Object]
Scarcity ,[object Object],[object Object],[object Object],[object Object],[object Object]
Scarcity of Basic Needs ,[object Object],[object Object],[object Object],[object Object]
continued ,[object Object],[object Object],[object Object],[object Object],[object Object]
Trade-Off ,[object Object],[object Object],[object Object],[object Object]
Opportunity Cost ,[object Object],[object Object]
Economic Systems ,[object Object],[object Object],[object Object],[object Object]
Command Economy ,[object Object],[object Object],[object Object],[object Object],[object Object]
Market Economy ,[object Object],[object Object],[object Object],[object Object]
Mixed Economy ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Traditional Economy ,[object Object],[object Object],[object Object],[object Object]
United State’s Economy ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Private Property ,[object Object]
Profit ,[object Object]
Competition ,[object Object]
Consumer ,[object Object]
Producers ,[object Object]
Demand ,[object Object]
Supply ,[object Object]
MARKET ECONOMY ,[object Object],[object Object],[object Object]
DEMAND AND SUPPLY
Checkpoint >> ,[object Object],[object Object],[object Object],[object Object]
MARKET PRICE
Checkpoint >> ,[object Object],[object Object],[object Object],[object Object]
Market Price ,[object Object]
Decision Making - 6 steps ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Decision Making Worksheet ,[object Object],[object Object]
Example ,[object Object]
High Price of Gas ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Volatile Gas Prices ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Future ,[object Object]
Price of Gas Around the World ,[object Object],[object Object]
Oil Production ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Oil Consumption ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
United States ,[object Object],[object Object],[object Object],[object Object]
OPEC ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Chapter 2 ,[object Object]
GDP ,[object Object]
GDP spending ,[object Object],[object Object],[object Object],[object Object]
GDP ,[object Object],[object Object]
GDP per capita (person) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
GDP per capita ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
USA’s GDP ,[object Object],[object Object],[object Object],[object Object]
Unemployment Rate ,[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],WHY UNEMPLOYMENT
Personal Income ,[object Object],[object Object]
Retail Sales ,[object Object],[object Object],[object Object]
Business Cycle ,[object Object]
Prosperity ,[object Object],[object Object],[object Object],[object Object],[object Object]
Recession ,[object Object],[object Object],[object Object],[object Object],[object Object]
Depression ,[object Object],[object Object],[object Object],[object Object]
Great Depression ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Recovery ,[object Object],[object Object],[object Object],[object Object]
Inflation ,[object Object],[object Object],[object Object]
Deflation ,[object Object]
Interest Rates ,[object Object],[object Object],[object Object],[object Object]
Simple Interest ,[object Object]
Investmensts ,[object Object],[object Object]
Government Debt ,[object Object],[object Object],[object Object]
Other kinds of debt ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
National Debt ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
 
Which states produce the most oil? ,[object Object],[object Object],[object Object],[object Object],[object Object]
What is Petroleum? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Uses of Petroleum ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
More products ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Problems with Oil ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Refineries ,[object Object],[object Object]
Trans-Alaska Pipeline
Alaska Pipeline ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Alternative Energy ,[object Object],[object Object],[object Object]
Solar ,[object Object],[object Object],[object Object],[object Object],[object Object]
Ethanol ,[object Object],[object Object],[object Object],[object Object],[object Object]
Bodies ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Wind Power ,[object Object],[object Object],[object Object],[object Object],[object Object]
Hydropower ,[object Object],[object Object],[object Object],[object Object],[object Object]
Conserve Oil ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Drill in Alaska? ,[object Object],[object Object],[object Object],[object Object],[object Object]
Free Market Economy ,[object Object],[object Object]
Command Economy ,[object Object]
Money ,[object Object]
Economics ,[object Object]
Research a Career ,[object Object],[object Object],[object Object],[object Object],[object Object]
Entrepreneurship ,[object Object],[object Object],[object Object],[object Object]
Entrepreneur ,[object Object],[object Object],[object Object],[object Object]
Entrepreneur ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
New Business ,[object Object],[object Object]
What has Bill Gates done? ,[object Object],[object Object],[object Object],[object Object]
continued ,[object Object],[object Object],[object Object],[object Object]

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Economic Decisions Chapter 1 Summary

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