Today’s Agenda

1. Today’s Agenda Any Announcements? Any Questions? Let's Review our Bellwork.... Now... Let’s Begin Today’s Lesson…..

2. Today's State Standards Standard 2.0: Economics 2.1 understand economic systems and political structures.

3. Our objectives today 1. Understand the foundations of democracy. 2. Analyze the connections between democracy and the free enterprise system. 3. Identify the role of the internet in a democracy..

4. Our Goal Today Democracy insists on the fundamental importance of each and every individual. The free enterprise systems is a natural counterpart to democracy – for it, too, is built on the concept of individualism.

5. Basic Concepts of Democracy “No government demands so much from the citizen as Democracy, and none gives so much back.” – James Bryce (born May 10, 1838, Belfast, Ire.—died Jan. 22, 1922, Sidmouth, Devon, Eng.), British politician, diplomat, and historian best known for his highly successful ambassadorship to the United States (1907–13) and for his study of U.S. politics, The American Commonwealth, which remains a classic. (http://www.britannica.com/EBchecked/topic/82530/James-Bryce-Viscount-Bryce)

6. Basic Concepts of Democracy “No government demands so much from the citizen as Democracy, and none gives so much back.” – James Bryce What is James Bryce saying? What does democratic government demand from you? What does it give you in return?

7. Foundations of OUR Democracy • A recognition of the fundamental worth and dignity of EACH person. • A respect for the equality of ALL persons. • A faith in majority rule and an insistence upon minority rights. • An acceptance of the necessity of compromise and • An insistence upon the widest possible degree of individual freedom.

8. Does this ring true today? “Must a government of necessity be too strong for the liberties of its own people, or too weak to maintain its own existence?” – Abraham Lincoln, Response to a Serenade, November 10, 1864 Is the United States struggling with this question today?

9. Our Economic Model Our economic system is referred to as the FREE ENTERPISE SYSTEM. What does this term mean?

10. Free Enterprise System Explain a Free Enterprise Economic System by Ellis Davidson, Demand Media A free enterprise economic system is a crucial component of capitalist economic policy. It dictates that the government will not unduly interfere with economic transactions. No capitalist economy in practice is completely free enterprise, and a political debate has occurred for centuries concerning how desirable that would be. http://smallbusiness.chron.com/explain-enterprise-economic-system-1520.html

11. Supply and Demand Democracy is our political system. Free Enterprise is our economic system. The driving force behind Free Enterprise is the Law of Supply and Demand. At one time, buggy whips were in high demand. What are some examples of Supply and Demand?

12. Mixed Economy Our nation has a Mixed Economy, which means government is involved through regulation and promotion. What are some examples of regulation? What are some examples of promotion?

13. Primary Sources “The legitimate object of government, is to do for a community of people, whatever they need to have done, but can not do, at all, or can not, so well do, for themselves – in their separate, and individual capacities.” – Abraham Lincoln, July 1, 1854 What is President Lincoln saying? What are some examples?

14. Democracy and the Internet Should we be allowed to vote online? What do you think? What are some of the Pros? Cons? Video Time 

15. Democracy and the Internet What do you think about online voting? Should we do it or not? Is it safe? Reliable?

16. Vocabulary Compromise Free Enterprise System Law of Supply and Demand Mixed Economy

17. Compromise Compromise is the process of blending and adjusting competing views and interests. How would you summarize Compromise? Give some examples of compromises.

18. Vocabulary Compromise Free Enterprise System Law of Supply and Demand Mixed Economy

19. Free Enterprise System It is an economic system characterized by the private ownership of capital goods, investments made by private decision, not by government directive, and success or failure determined by competition in the marketplace. Explain the concept of Free Enterprise.

20. Vocabulary Compromise Free Enterprise System Law of Supply and Demand Mixed Economy

21. Law of Supply and Demand That law states that when supplies of goods a and services become plentiful, prices tend to drop. When supplies become scarcer, prices tend to rise. What are some examples of this?

22. Vocabulary Compromise Free Enterprise System Law of Supply and Demand Mixed Economy

23. Mixed Economy An economy in which private enterprise exists in combination with a considerable amount of government regulation and promotion. How would you differentiate between regulation and promotion?

24. What did we learn today? Turn to page 22 in our textbook. On lined notebook paper, answer questions 1, 2, 3 and 4 in your bellwork.

25. Today's State Standards Standard 2.0: Economics 2.1 understand economic systems and political structures.

26. Our objectives today 1. Understand the foundations of democracy. 2. Analyze the connections between democracy and the free enterprise system. 3. Identify the role of the internet in a democracy..

27. Our Goal Today Democracy insists on the fundamental importance of each and every individual. The free enterprise systems is a natural counterpart to democracy – for it, too, is built on the concept of individualism.