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The Free-Market Capitalist Economy Economics !
What is a Free Market Economy ?
The Free Market Business governed by the laws of supply and demand, not restrained by government interference, regulation ...
The LAW OF SUPPLY The Law of Supply states that the quantity of a good supplied  rises as the market price rises, and fall...
Law of Demand The Law of Demand says that the quantity of a good demanded falls as the price rises, and rises as the price...
Equilibrium Price The market price at which the supply of an item equals the quantity demanded .
American Capitalism: A Short History <ul><li>American Revolution was caused partly by Britain’s policy of  Mercantilism </...
The U.S. Constitution <ul><li>Federalism limited power of States on  economic matters </li></ul><ul><li>Limited the power ...
Chief Justice John Marshall <ul><li>Ruled consistently in favor of free-markets over regulation by states </li></ul><ul><l...
The Great Depression & New Deal 1933 -1941
The Era of Big Government Begins
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Economics - Intro to American economic history

Middle School level econ history lecture

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Economics - Intro to American economic history

  1. 1. The Free-Market Capitalist Economy Economics !
  2. 2. What is a Free Market Economy ?
  3. 3. The Free Market Business governed by the laws of supply and demand, not restrained by government interference, regulation or subsidy. &quot;Laissez-Faire&quot; Capitalism Physiocrats
  4. 4. The LAW OF SUPPLY The Law of Supply states that the quantity of a good supplied rises as the market price rises, and falls as the price falls
  5. 5. Law of Demand The Law of Demand says that the quantity of a good demanded falls as the price rises, and rises as the price falls.
  6. 6. Equilibrium Price The market price at which the supply of an item equals the quantity demanded .
  7. 7. American Capitalism: A Short History <ul><li>American Revolution was caused partly by Britain’s policy of Mercantilism </li></ul><ul><li>Framers of the Constitution were gentry and merchants </li></ul><ul><li>Admired Adam Smith’s Wealth of Nations </li></ul>
  8. 8. The U.S. Constitution <ul><li>Federalism limited power of States on economic matters </li></ul><ul><li>Limited the power of Federal Government to tax, regulate, spend. </li></ul><ul><li>Protected the Right of Property - 5th Amendment </li></ul>
  9. 9. Chief Justice John Marshall <ul><li>Ruled consistently in favor of free-markets over regulation by states </li></ul><ul><li>Ruled against grants of monopoly by states </li></ul><ul><li>Ruled for Federal power over State’s Rights </li></ul>
  10. 10. The Great Depression & New Deal 1933 -1941
  11. 11. The Era of Big Government Begins

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Middle School level econ history lecture

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