Capitalism and Free Enterprise

Civics The American Economy Capitalism and Free Enterprise
Students describe the characteristics of capitalism and free enterprise. Then they examine the U.S. gross domestic product. Next they compare the U.S. GDP per capita to that of other countries. Finally they draw a conclusion if GDP per capita is an effective measure of standard of living.

This learning experience is designed for device-enabled classrooms. The teacher guides the lesson, and students use embedded resources, social media skills, and critical thinking skills to actively participate. To get access to a free version of the complete lesson, sign up for an exploros account.

1:1 Devices
Teacher Pack

The Pack contains associated resources for the learning experience, typically in the form of articles and videos. There is a teacher Pack (with only teacher information) and a student Pack (which contains only student information). As a teacher, you can toggle between both to see everything.

Here are the teacher pack items for Capitalism and Free Enterprise:

Preview - Scene 1
Exploros Learnign Experience Scene Navigation


Overview

In this experience, students describe the characteristics of capitalism and free enterprise. Then they examine the U.S. gross domestic product. Next they compare the U.S. GDP per capita to that of other countries. Finally they draw a conclusion if GDP per capita is an effective measure of standard of living.

Objectives

  • Identify characteristics of capitalism and free enterprise.
  • Analyze how gross domestic product (GDP) is used to measure economic output.


Engage


photo of Steve Jobs holding a MacBook Air laptop

Steve Jobs, Founder of Apple Computer


In 1976, Steve Jobs and his partner, Steve Wozniak, started a technology company called Apple Computer, working out of the Jobs family garage. The first Apple computer sold for $666.66. By 1980, Apple Computer was worth $1.2 billion, and millions of homes had their first personal computers. In 2007, Apple once again changed the face of technology by releasing the Apple iPhone. Ten years after the first iPhone, Apple is the second most valuable company in the world, worth over $550 billion.

Objectives

  • Identify characteristics of capitalism and free enterprise.
  • Analyze how gross domestic product (GDP) is used to measure economic output.

The success of Apple is a great example of how an individual can find huge success, not to mention great riches, due to capitalism and free enterprise.


Steve Jobs, when asked about money and success, once said, “I think money is a wonderful thing because it enables you to do things. It enables you to invest in ideas that don't have a short-term payback.” Explain what you think Steve Jobs meant.

Post your answer

Give students a few minutes to review one another’s responses.


When everyone is ready to continue, unlock the next scene.

End of Preview
The Complete List of Learning Experiences in The American Economy Unit.
Civics The American Economy What Is a Market Economy?
What Is a Market Economy?
Civics The American Economy American Production
American Production
Civics The American Economy Economic Choices
Economic Choices
Civics The American Economy Living in a Global Economy
Living in a Global Economy
Civics The American Economy The Government and Income Inequality
The Government and Income Inequality
Civics The American Economy Consumers
Consumers
Civics The American Economy Distributing Goods
Distributing Goods
Civics The American Economy The American Economy: Unit Review
The American Economy: Unit Review
Civics The American Economy Capitalism and Free Enterprise
Capitalism and Free Enterprise
Civics The American Economy Government's Role in the U.S. Economy
Government's Role in the U.S. Economy
Civics The American Economy Labor and Management
Labor and Management
Civics The American Economy Buying on Credit
Buying on Credit
Civics The American Economy The Federal Budget: Taxes and Spending
The Federal Budget: Taxes and Spending
Civics The American Economy How Businesses Are Organized
How Businesses Are Organized
Civics The American Economy Entrepreneurs
Entrepreneurs
Civics The American Economy Budgeting Your Money
Budgeting Your Money
Civics The American Economy Banks and Banking
Banks and Banking
Civics The American Economy Supply and Demand in a Market Economy
Supply and Demand in a Market Economy
Civics The American Economy Saving and Investing
Saving and Investing
Civics The American Economy Measuring the Economy
Measuring the Economy
Would you like to preview the rest of this learning experience, and get access to the entire functioning Civics MS course for your classroom? Sign up using your school email address below.
Back to top