Description: This is a one semester required course that focuses on the basic principles concerning production, consumption, and distribution of goods and services in the United States. Students will examine the rights and responsibilities of consumers and business in a free enterprise system. The interaction of supply, demand, and price will be analyzed. Also studied will be the role of financial institutions in a market economy, the relationship of the American economies in the world, types of business ownership and market structures, the government's policy on taxing and spending, the Federal Reserve, international trade, and the role of labor in our economic system.