Some government intervention occurs in the American economy, but generally the marketplace answers the three basic economic questions of what, how, and for whom goods and services should be produced. In command (controlled) economies, however, the government (and not the market) answers these three basic questions. Read on to learn about the major alternative to market capitalism
How do you apply for credit? What factors determine whether or not you will be approved for credit? Perhaps more importantly, how can you dig yourself out of debt if your payments are more than you can handle? In this section, you’ll learn what makes a person eligible for credit. You’ll also learn ways to handle your debts before they get out of control.
Americans consume a great variety of foods. They can choose from thousands of different food products and buy them at thousands of stores. Hundreds of brands offer numerous choices. With pizza alone, Americans can choose fresh-baked or frozen, deep dish or thin crust, meat lovers’ or vegetarian, or even pizza in a cone. In all, American consumers spend hundreds of billions of dollars a year on food. In this section, you’ll learn how to get the most from your food dollars.
Americans spend over $400 billion annually on clothing and other personal products. Most people could reduce clothing expenditures by purchasing only a few very durable items. The clothes, however, would not serve another purpose—variety. In this section, you’ll learn that variety, for Americans, is typically the motivating factor involved in clothing choice.
Deciding whether or not to buy a house is one of the most important financial decisions most people will make. Some people will save for years in order to buy a small house. Others take out huge mortgages to purchase large homes. Still others are content to rent a house, condo, or apartment most of their lives. In this section, you’ll learn about the advantages and disadvantages of both renting and buying.
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