Chapter 5: What Is the Economic Problem? National 86–88 86–88 Activity 1: National Objectives: Economic Economic Goals 1. Identify the economic problem. Goals Survey (pp. 2. List the four primary economic goals 49–50) of most nations. 3. Evaluate the economic goals of a nation based on a biblical worldview. Worldview: Work is way to provide personal God’s income. Three Economic Activity 2: The Objectives: Questions Distribution 1. List the three critical economic Question (p. questions. 51) Activity 3: The Output 2. Explain the command and market Question solutions to each of the three economic questions. 3. Describe the egalitarian and libertarian concepts of fairness. 4. Explain the biblical principles that apply to the distribution question. 5. Evaluate solutions to the three economic questions from a biblical worldview. Chapter Review 101 101 Activity 4: Review (pp. 54–56) Activity 5: Crossword Puzzle (pp. 57–58) Chapter Test Chapter 6: Economic Systems Early Economic Activity 1: I, Pencil Objectives: Systems (pp. 1. Describe mercantilism. 61–63) 2. Describe Adam Smith’s contribution to economics. 3. Define laissez-faire liberalism. Worldview: 1. Christians should guard against coveting others’ wealth. 2. God considers wisdom to be of more value than wealth. Modern Activity 2: Economic Objectives: Economic Systems and Public 1. Identify the two questions that help Systems Opinion (pp. determine whether an economy is 65–66) capitalistic or socialistic. 2. Describe each of the major forms of capitalism. 3. Describe each of the major forms of socialism. 4. Explain how free-market capitalism compares to scriptural principles. 5. Explain how socialism compares to scriptural principles. Chapter Review 121 121 Activity 3: Review (pp. 67–69) Chapter Test
Chapter 5: What Is the Economic Problem? National Economic Goals 86–88 86–88 Activity 1: National Economic Goals Survey (pp. 49–50) Objectives: 1. Identify the economic problem. 2. List the four primary economic goals of most nations. 3. Evaluate the economic goals of a nation based on a biblical worldview. Worldview: Work is God’s way to provide personal income. Three Economic Questions Activity 2: The Distribution Question (p. 51) Activity 3: The Output Question Objectives: 1. List the three critical economic questions. 2. Explain the command and market solutions to each of the three economic questions. 3. Describe the egalitarian and libertarian concepts of fairness. 4. Explain the biblical principles that apply to the distribution question. 5. Evaluate solutions to the three economic questions from a biblical worldview. Chapter Review 101 101 Activity 4: Review (pp. 54–56) Activity 5: Crossword Puzzle (pp. 57–58) Chapter Test Chapter 6: Economic Systems Early Economic Systems Activity 1: I, Pencil (pp. 61–63) Objectives: 1. Describe mercantilism. 2. Describe Adam Smith’s contribution to economics. 3. Define laissez-faire liberalism. Worldview: 1. Christians should guard against coveting others’ wealth. 2. God considers wisdom to be of more value than wealth. Modern Economic Systems Activity 2: Economic Systems and Public Opinion (pp. 65–66) Objectives: 1. Identify the two questions that help determine whether an economy is capitalistic or socialistic. 2. Describe each of the major forms of capitalism. 3. Describe each of the major forms of socialism. 4. Explain how free-market capitalism compares to scriptural principles. 5. Explain how socialism compares to scriptural principles. Chapter Review 121 121 Activity 3: Review (pp. 67–69) Chapter Test
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