Features of the U.S. Economy 🇺🇸

🎯 Learning Targets

• Describe the main features of free enterprise in the United States
• Name the two markets of the circular flow model
• Explain how the circular flow model reflects exchange

⏰ What We Did

• Watched and took instructional notes on Lesson 7, Part 1: Features of the U.S. Economy
• Distributed and explored a handout on the circular flow model
• Continued playing "Business Strategy," highlighting aspects of the classroom economy from the instructional video
• Due to the high number of assessment make-ups — Used instructional notes from Lesson 7, Part 1 to answer the following questions in complete sentences:

1. Define free enterprise, private property, product market, and resource market.
2. What separates the U.S. economy from the pure market model? What features does the U.S. economy share with the pure market model?
3. How does the product market differ from the resource market in the circular flow model? Describe an exchange you have made recently, and identify its place in the circular flow model.
4. What types of exchanges are shown in the circular flow model?

⚙️ Resources

• Lesson 7 Instructional Notes
• Lesson 7, Part 1: Features of the U.S. Economy
• The Circular Flow of Goods and Services (H-4)
• Business Strategy Central

💯 Assessment Make-ups

• Make-ups for the Unit 1 Content (Part I) and/or Skills (Part II) Assessments will take place after school on T 6 May and W 7 May OR this week during non-core (i.e., electives) classes

💻 Homework

• Watch and take notes on Lesson 7, Part 2: The U.S. Economy at Work, before class tomorrow