Friday, April 1

http://www.moneychimp.com/features/tax_brackets.htm
This is the website that will help you figure out how much will be spent in a year on income tax.

What I would like you to do is to make sure that you list all of the items you feel will be necessary to your family from the list of Family Expenses that I have given you.  Come up with a way to balance this budget in a proper way.  Remember that decisions are inevitable in every situation: where to cut and where to spend more. 

Note: Every group will be doing this as if they have 1 child.  10 - 15 years of age.

In order for full credit on this, make sure that you do some research on how much you will spend a year on these items based on what the nation spends on them.  Where will you cut back and where will you spend more. 

This wil be due to me at the beginning of class on Monday. 

Unit 2 Introduction: Chapter 3 Section 1

List some goods and services that your parents buy.  Be sure to think about taxes, transportation, recreation, clothing etc.... List which are necessities.  Purpose: to show decision making within a family setting.

Unit 1 Test review

Write two possible test questions that you might see on the test tomorrow.  Provide an answer with each question.

Chapter 3 Section 1

What goal of a free market economy do you feel is best shown in America's economy? Explain.

Chapter 2 Section 2

Using the six major characteristics of a pure makrket economy, which of these characteristics do we as American's see in our society today? Explain.

Chapter 2

Describe one economic system in 3 sentences that is found in section 1, giving at least 2 examples.