ERIC Number: ED177057
Record Type: RIE
Publication Date: 1977
Reference Count: 0
The American Economic System...and Your Part In It.
Department of Commerce, Washington, DC.; Advertising Council, Inc., New York, NY.
The booklet, intended for adult or continuing education, discusses the American economic system, emphasizing definitions of economic concepts and the individual's role as part of the system. The objective is to provide a simple description of the American economic system and to promote better understanding of it. The booklet is presented in six chapters. Chapter I summarizes some of the economic principles upon which America's prosperity has been built and stresses the necessity for being able to make informed decisions in order to meet future economic and social challenges. Chapter II defines an economic system as well as goods and services, offering a brief overview of various economic and political systems. Chapter III explains how the economy works, examining the roles of consumers, producers, governments, and natural and other resources. Chapter IV discusses how economic factors fit together and work, emphasizing the concepts of supply and demand, prices, competition, expansion and recession, fiscal policies, monetary policy, and inflation. Chapter V summarizes what the economy provides, discussing gross national profit; personal, disposable, and business income; gross profit; and international trade, including trade deficit and surplus. Chapter VI emphasizes the need for informed economic choices and the role an individual can play in making those choices. It also lists personal and public economic choices involving opportunity cost. (CK)
Descriptors: Adult Education, Concept Teaching, Consumer Education, Economic Change, Economic Factors, Economics, Economics Education, Government Role, Individual Power, Secondary Education
"Economics," Pueblo, Colorado 81009 (single copies, free)
Publication Type: Guides - Classroom - Learner
Education Level: N/A
Authoring Institution: Department of Commerce, Washington, DC.; Advertising Council, Inc., New York, NY.
Note: All "Peanuts" illustrations in this booklet have been removed by ERIC due to copyright law