economics goals – Flashcards
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economic efficiency
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making the most of scarce recourses
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economic freedom
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freedom from government in the production and distribution of goods and services
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economic security
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knowing that goods and services will be available from the government
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economic predictably
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knowing that goods and services will be available when you expect them
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economic equity
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fairness being paid according to you skill level, not being discriminated against
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economic growth
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there are improved standards of living and GDP
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economic innovation
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improvements in technology
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additional goals
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future goals for society
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example of economic efficiency
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a business knowing the best way to use recourses (assembly line)
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example of economic freedom
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working where you want and owning a business
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example of economic security
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unemployment checks and social security
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example of economic predictability
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gas a gas pumps and food in a grocery store
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example of economic equity
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computer programmers earn more than truck drivers because of their skill level
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example of economic growth
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agricultural age to industrial age
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example of economic innovation
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changes in computers and cell phones over the years
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example of additional goals
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environmental protection and universal health care in the future
