How do people in those countries decide what, how, and for whom to produce? What role does government play?

Reading From your textbook: Chapter 1: What is Economics? An Economic Way of Thinking Scarcity and Choice Opportunity Costs Exchange Chapter 2: Economic Systems Types of Economic Systems Features of the U.S. Economy The U.S. Economy at Work Supplemental: Visit the Holt Online Learning Portal for supplemental readings, practice questions, Holt Economics Internet Resources Materials https://go.hrw.com/hrw.nd/gohrw_rls1/pKeywordResults?keyword=sm3%20toc Publisher: Holt, Rhinehart & Winston Title: Economics Author(s): Robert L. Pennington Year Published: 2003 Student edition: ISBN 0030646847 Economic unit 1 The Role of Government in a Free Enterprise System Opportunity Cost Marketplace American Public Media in association with the University of Southern California Senior Editor Paddy Hirsch from Marketplace breaks down economic terms, concepts and ideas. These are quick support videos and are not meant to replace the assigned readings for the unit. *video does not exist on youtube anymore* Assignment 1. Trade-offs and Opportunity Cost Pretend you are a teenager, writ three paragraphs where you describe, from your own experience a recent economic choice you have made. Identify the trade-offs and opportunity cost in making the choice. A paragraph is between 5-7 sentences. 2. Economic Systems Around the World Select three countries, other than the United States, and research their economies. How do people in those countries decide what, how, and for whom to produce? What role does government play? Think about the assigned reading for this unit and then identify which of the four main economic system categories each country fits into.
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