Fundamental Economic Systems Standards Assignment #4

Title:Economuic Goals, Role Of Government; Economic Growth and Stability

1. How are the economic goals of freedom, security, efficency, equity, stability, and economic growth achived in a  market economy? Economic freedom simply allows people to have freedom in the economy.Economic equity is the fairness of all people disregarding race or income. Economic stability is the absence of excesive fluctuations in the economy.Economic Growth is the process which a country's wealth increases over time. Security is simply for protecting the economy.

2. Why has the role of government in the economy increased dramarically since the 1880's?
The government has increased because of scarcity.

3. Write an argument that supports or opposes the statement in the visual below that says "deregualtion won't work because people are greedy".
This statement is very accurate. America sees nothing but the finer things in life and the problem is that we have so much demand we dont have enough supply. If deregulation occurs then there is not gone be enough economic equity.


4. Explain why the government provides public goods and services?  Why are these public goods and services NOT provided sector?
The government provides public goods and services for consumers and producers in a market economy .  Goods and services are not provided by the private sector because there's government involvement so that means its in the command economy.
5.Describe the 6 functions of government in a market economy .
The 6 functions are maintaing social fram work, providing public goods, maintaining competition, redistribution income, correcting for exteralities, and stabilizaing the economy.

6.Describe the relationship that inputs and outputs have on productivity?In order for an economy to be sucessful  it must increase productivity . It must produce output which are the products for the resources . Productivity equals the amount of output of products and the input of resources.

7.How do investments in capital goods ,technology, human capital and training and educating workers , improve productivity and economic growth? They improve productivity and economic growth by using some of the economy profits to buy new machines and equipment , to research and implement new technologies ,and to improve the education of the workforce.
8.Refer to the chart below and explain the cause of the decrease in the output, productivity and employmet in manufacturing in the united states .What can the united states do to reverse this downward trendin manufacturing?
The unemployment rate is high because only a few workers producing the output in the u.s manufacturing and the productivity growth is almost equal, therefore there is not enough workers to do the job.