Your SlideShare is downloading. ×
  • Like
My four economies
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×

Now you can save presentations on your phone or tablet

Available for both IPhone and Android

Text the download link to your phone

Standard text messaging rates apply
Published

 

Published in Education
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
No Downloads

Views

Total Views
3,281
On SlideShare
0
From Embeds
0
Number of Embeds
0

Actions

Shares
Downloads
59
Comments
0
Likes
2

Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide

Transcript

  • 1. THE FOUR ECONOMIC SYSTEMS
  • 2. Economic SystemsAn economic system describes how a country’s economy is organized. It is a system of production, distribution and consumption. Economic systems influences the way the nation make economic choices about how the nation will use its
  • 3. The four economic system Market Economy Command Economy Traditional Economy Mixed Economy
  • 4. The Market Economy Individuals control production and allocation decisions through demand and supply. This economy is guided by the changes of prices that occur as the individual buyers and sellers interact in the market place.
  • 5. The Command Economy The government makes all the decisions and owns most of the production. The government runs all the businesses, controls all employment, and decides how goods and services will be produced. The governmental planning determines the prices of goods and services or the wages of workers
  • 6. The traditional Economy This economy is shaped by religion and customs In this economy people will always make what they always made and they will do work that they parents did.
  • 7. The Mixed Economy It is an economy with both characteristics of command and market economy. The government owns and operates only selected major sources of production. Businesses own most resources and determine what and how to produce, but the government regulates certain industries.
  • 8. Which economy is often used?1. Market Economy: more individual economy SUPPLY OUTPUT MARKETS DEMAND Goods Services FIRMS HOUSEHOLDS • Supply products • Demand products in output in output markets markets • Supply resources • Demand INPUT MARKETS in input markets resources in DEMAND Labor SUPPLY input markets Capital Entrepreneurs Physical Resources Information
  • 9. BIBLIOGRAPHY Brooke, K. (05/09/2007). Understanding Economic Systems. Coil, B. (18/12/2008). Economic systems. David. (17/10/2009). The Economic Systems. Stevenish. (08/08/2010). Different types of economic system. Yacub. (10/02/2012). Types of economic systems.