what is economic liberalism?

Lo1- define economic liberalism
Lo2- identify characteristics of "capitalism"
Lo3- compare capitalism to other economic systems- (communism, socialism)
Thinking historically- the wealth of nations

6% - the amount of tax that goes to the state of Maryland
Sales tax- voluntary taxes
income tax- involuntary taxes
for every one dollar, we keep .75c and the government keeps the other .25c
our percentage is generally lower than in other countries
more people spend - the more goods - the more jobs needed - money begins to be made - people spend more money it is a full-cycle.
25% is what goes to the federal government
the cycle is a byproduct in a global sale
this equates for more money in the overall company
socialism - they want more things for their people
communism -
college = free
healthcare = free
they take more money from sales but give them back in ways that we don't in the united states
when people want something more they raise the price
total at-home productivity.  - gross domestic product
look at the questions on veracross.
in an individual company, you can't have the government have total control

1) china $23,160,000,000,000
2) United States $19,390,000,000,000
3) India 9,459,000,000,000
5)Japan 5,429,000,000,000
6)germany 4,171,000,000,000
7)russia 4,008,000,000,000
8) indonesia 3,243,000,000,000
9)Brazil
blog post due tonight!

expense demand determines the price
the lower the demand the lower the price the higher demand  the higher the price

https://docs.google.com/document/d/1PtZ2DK4vlbgGyTl0dVXHHHp-yBgYiOmeQYgmcHR_wf8/edit?usp=sharing

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