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- Identify the concepts and principles of capitalism.
- Discuss the economic system of free market capitalism in the U.S.
- Discuss the influence of the profit motive.
- Who is Adam Smith in history, and what influence did he have on economic theory?
- What determines the wages and salaries of workers in a capitalist society.
- Identify the define the concepts and principles of a traditional economy.
- Hoe does a traditional economy impact the concept of economic choice.
- What type of role does the individual have in a market, traditional, and command economy.
- Identify and discuss the concepts and principles of a command economy. Discuss the inefficiencies of this type of economy.
- Identify how methods of production vary from economic system to economic system.
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