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Descriptive Overview:. In the American economic system, the market and the federal, state, and local governments share in the important role of production of goods and services. This system is called a mixed market economy, or more simply stated, a mixed economy. And, in the American mixed econom
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1. Production and Distribution Social Studies/Economics
2. Descriptive Overview: In the American economic system, the market and the federal, state, and local governments share in the important role of production of goods and services. This system is called a mixed market economy, or more simply stated, a mixed economy. And, in the American mixed economy, any level of government may influence the market. They do this primarily as a matter of consumer protection. This lesson will present a broad view
of the circular flow of the U. S. economy.
3. Lesson Objectives/Goals:
Students will be able to:
identify the components of U. S. economic activity;
explain about factors of production; and
discuss and demonstrate the various components of the
Want-Satisfaction Chain.
4. Key Questions:
What impact does government taxation, borrowing, and spending have on the production and distribution cycle?
What impact does the disruption of any portion of the production/distribution cycle have on the U. S. economy?
5. Terminology/ Vocabulary: Factors of production (land, labor, capital) want-satisfaction chain
