Bell Ringer – 2/5/09Bell Ringer – 2/5/091.1. Why isn’t the United States Why isn’t the United States

considered a “traditional considered a “traditional economy”?economy”?

2.2. Give two examples of Give two examples of command economies from command economies from World HistoryWorld History

3.3. Why makes the U.S. a Why makes the U.S. a capitalist nation?capitalist nation?

The U.S. EconomyThe U.S. Economy Based on the Based on the market market

modelmodel, which is , which is driven by individualsdriven by individuals

Americans are free to Americans are free to exchange goods and exchange goods and servicesservices

Choose own jobsChoose own jobs Own & operate Own & operate

businessesbusinesses

Free EnterpriseFree Enterprise System under System under

which business which business can be conducted can be conducted freely with little freely with little government government interventionintervention

Prices respond to Prices respond to competition (a competition (a benefit?)benefit?)

Chicago Financial StatisticsChicago Financial Statistics

Median household income - Median household income - $43,373$43,373 Income change over time – Income change over time – 60% 60%

increase since 1990increase since 1990 Auto insurance premiums - Auto insurance premiums - $722 $722

Median home priceMedian home price $238,567 $238,567 Home price gainHome price gain

(2-5 year gain) 12.16%(2-5 year gain) 12.16%

Real Estate Agent AssignmentReal Estate Agent Assignment Read pg. 31 to understand the Read pg. 31 to understand the

basics of a Real Estate careerbasics of a Real Estate career Write a sample interview for a Write a sample interview for a

Real Estate Agent seeking a job Real Estate Agent seeking a job OROR put together a sample put together a sample showing of a house or condo with showing of a house or condo with a Real Estate Agent and buyers.a Real Estate Agent and buyers.

Be ready to perform your skit to Be ready to perform your skit to the class!the class!

HomeworkHomework Pg 42 “Identifying” and Pg 42 “Identifying” and

“Understanding”“Understanding” WorksheetWorksheet Real Estate SkitReal Estate Skit