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Chapter One Powerpoint Section 2

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Information about Chapter One Powerpoint Section 2

Published on February 3, 2009

Author: odowdc

Source: slideshare.net

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Colin O’Dowd

Situation 1: Deciding where to live- You decide to move to California but you also loved Georgia because of its beaches. This is opportunity cost because it is the value of the next best alternative. Situation 2: Deciding what college to go to- You decide to go to UNC but you really liked NC State because of its nice campus and staff. This is opportunity cost because it is the value of the next best alternative.

Situation 1: Deciding where to live-

You decide to move to California but you also loved Georgia because of its beaches. This is opportunity cost because it is the value of the next best alternative.

Situation 2: Deciding what college to go to-

You decide to go to UNC but you really liked NC State because of its nice campus and staff. This is opportunity cost because it is the value of the next best alternative.

1. Define the Problem Picking out a good job 2. Identify the Choices Selecting choices 3. Evaluate the disadvantages and the advantages Evaluate you choices are the pros and cons of each job 4. Choose one Select a job 5. Act on your choice Go to the job and ask for an interview 6. Review your Decision Think if you are happy doing this work

1. Define the Problem

Picking out a good job

2. Identify the Choices

Selecting choices

3. Evaluate the disadvantages and the advantages

Evaluate you choices are the pros and cons of each job

4. Choose one

Select a job

5. Act on your choice

Go to the job and ask for an interview

6. Review your Decision

Think if you are happy doing this work

1. Define the Problem Deciding whether to fly or drive 2. Identify the Choices Selecting your two options 3. Evaluate the disadvantages and the advantages Evaluate you choices are the pros and cons of each choice 4. Choose one Pick either driving or flying 5. Act on your choice Book tickets or fill up the tank 6. Review your Decision Think about the choice you have made.

1. Define the Problem

Deciding whether to fly or drive

2. Identify the Choices

Selecting your two options

3. Evaluate the disadvantages and the advantages

Evaluate you choices are the pros and cons of each choice

4. Choose one

Pick either driving or flying

5. Act on your choice

Book tickets or fill up the tank

6. Review your Decision

Think about the choice you have made.

A economy that is controlled by the people of the country The United States is an example of Market Economy Con: Greed of corporations in unlimited Pro: encourages individual initiative

A economy that is controlled by the people of the country

The United States is an example of Market Economy

Con: Greed of corporations in unlimited

Pro: encourages individual initiative

Economy that is completely controlled by the government. Cuba is an example of Command economy Con: The government is in complete control of the economy and sometimes people don’t get to pick their jobs Pro: Companies cannot form monopolies.

Economy that is completely controlled by the government.

Cuba is an example of Command economy

Con: The government is in complete control of the economy and sometimes people don’t get to pick their jobs

Pro: Companies cannot form monopolies.

Refers to private ownership of resources and business The US is an example of Capitilism Con: Companies can get extremely greedy Pro: Business can be owned by citizens to make profit

Refers to private ownership of resources and business

The US is an example of Capitilism

Con: Companies can get extremely greedy

Pro: Business can be owned by citizens to make profit

Government owns businesses and resources North Korea is an example of Communism Con: People have no say in economy Pro: Companies don’t have power to become monopolies and they cant get greedy

Government owns businesses and resources

North Korea is an example of Communism

Con: People have no say in economy

Pro: Companies don’t have power to become monopolies and they cant get greedy

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