This week we will watch the movie/ documentary Closed for Storm we will have a detailed discussion over the economic impact of man-made and natural disasters on both individual people Microeconomics and on large communities Macroeconomics. Be prepared to discuss and write about the movie and the resulting economics conditions left in the wake of the closing of the park.
Category Archives: 118.4.05
(5) Economics. The student understands free enterprise, socialist, and communist economic systems. The student is expected to:
(A) describe the basic characteristics of economic systems, including property rights, incentives, economic freedom, competition, and the role of government;
(B) compare the free enterprise system, socialism, and communism using the basic characteristics of economic systems;
(C) examine current examples of free enterprise, socialist, and communist economic systems;
(D) understand that the terms free enterprise, free market, and capitalism are synonymous terms to describe the U.S. economic system; and
(E) analyze the importance of various economic philosophers, including Friedrich Hayek, Milton Friedman, John Maynard Keynes, and Adam Smith, and their impact on the U.S. free enterprise system.