Economics

Homework due Wednesday, September 15

Economics in Our Times, 32-38 and Analyzing Primary Sources, 46. Be sure to read 36-37.

Be prepared to answer: p. 37, Questions 1, 2, & 4
p. 46, Q’s 1 & 2

Terms:
How does free enterprise answer the three economic questions?
What are the five features of free enterprise?
private property
public property
incentive
profit
total revenue
total cost
loss