Chapter 1 Overview
Topics
- Understanding Economic Systems and Business
Objectives
By the end of this week you will be able to...
- Describe how businesses and not-for-profit organizations help create our standard of living
- Explain the sectors of the business environment, and how changes in them influence business decisions.
- Describe the primary features of the world’s economic systems, and how are the three sectors of the U.S. economy linked.
- Discuss how economic growth, full employment, price stability, and inflation indicate a nation’s economic health.
- Describe how the government use monetary policy and fiscal policy to achieve its macroeconomic goals.
- Define the four types of market structure.
Weekly Schedule
| Activity | Estimated time required |
|---|---|
| Reading: Chapter 1 | 1 hour |
| Discussion: Week 1 | 45 minutes |
| Assignment: Week 1 | 45 minutes |
| Quiz: Chapter 1 | 45 minutes |