Recommendations are made so that teachers can have a sound background in economics. Teachers should be able to understand and to teach the skills and concepts used in the free enterprise system. This report is designed to help preservice and inservice teachers improve their knowledge of economics and the free enterprise system. The first chapter discusses major economic concepts teachers should understand: resources, production and distribution, and consumption. Economic terms are defined, and relationships among elements in the capitalist system are explained. In the second chapter, an interdisciplinary approach to economics education, beginning in kindergarten and ending with the twelth grade, is advocated. The curriculum should include basic concepts, the nature of the relationship between economics and society, consumer education, and personal economics management. The third chapter contains recommended methods for businesses to participate in economics education: by improving communication with schools, providing in-house economic courses, and sharing educational resources. The final section describes a study that investigated the economic knowledge level and attitudes of high school seniors, college seniors, and young adults who had attended less than one year of college. The topics under consideration were consumer education, the free enterprise system, and general economics education. The results are discussed, and recommendations generated by the findings are made. (FG)