United States Economy
Here in the United States, the government makes decisions to try and help our country so that we can obtain stable advancements. Our nation's economy is determined by the four basic economic questions. These four questions are able to answer what, how, for whom, and who are controlled by the government. The government can answer these questions because we are a mixed economy. Our economy is combined with both socialism and capitalism, meaning our government helps out but is not the leading influence. If you look at page 16 in the textbook, figure 1-5 shows when the government taxes people it will allow for more government spending, which leads to product and resource markets. Although no one really like to have to pay for taxes this will provide
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Individuals that makeup households still have the choice on what goods to buy and how to use their benefits from their resources. “Today, almost 70 percent of our nation’s total production consist of consumer products” (Pg. 16). This quote from the book shows that the leading customers of businesses are the individual consumers that purchase goods from businesses with money from income. Without the help of the government in our economy we would not have a steady money supply. If we had no money to rely on for businesses we would have a market based on trade, making our economy very finite. The criminal and justice system helps with the economy because without it, crime would start to take over the business communities. The government pays police to protect businesses, properties, overlook banks, and many more things as well that help keep the economy going. The government in my opinion is participating in the economic system by providing money for supplies and helping with distribution with the supplies. Individuals and businesses still own and promote most of the businesses that provide goods and
Individuals that makeup households still have the choice on what goods to buy and how to use their benefits from their resources. “Today, almost 70 percent of our nation’s total production consist of consumer products” (Pg. 16). This quote from the book shows that the leading customers of businesses are the individual consumers that purchase goods from businesses with money from income. Without the help of the government in our economy we would not have a steady money supply. If we had no money to rely on for businesses we would have a market based on trade, making our economy very finite. The criminal and justice system helps with the economy because without it, crime would start to take over the business communities. The government pays police to protect businesses, properties, overlook banks, and many more things as well that help keep the economy going. The government in my opinion is participating in the economic system by providing money for supplies and helping with distribution with the supplies. Individuals and businesses still own and promote most of the businesses that provide goods and