Seven Socio-Economic Goals of the U.S.

1. Seven Socio-Economic Goals of the U.S.

2. Warm-up/Dec. 17: Take out “The Socio-Economic Goals of Congress” handout and turn it over. Use the terms below to match the prompts. • 1. Economic Freedom- The ability for both people and producers to make their own economic choices. People like to be able to choose their careers, employers and how to spend their income.   • 2. Economic Efficiency- Because of the scarcity of resources, using resources effectively is vital. • 3. Economic Equity- We believe in fairness and equality in the United States. Therefore, the government has passed laws to make discrimination on the basis of age, sex, religion and disability illegal. • 4. Economic Security- To protect workers against layoff and illness, employers offer different insurance plans to offer security. The government developed Social Security so that all workers have some type of retirement plan. •  5. Full Employment- The economy runs at its peak when the country has full employment. During full employment the government spends less on entitlements such as welfare. • 6.Price Stability- The government is extremely concerned with inflation, the value of money. Congress, the President, and the Federal Reserve use monetary and fiscal policy to keep prices stable. •  7. Economic Growth - In order for peoples live to continue to improve there is a need for the economy to grow