• Save
The Four Economic Systemsb
Upcoming SlideShare
Loading in...5
×
 

Like this? Share it with your network

Share

The Four Economic Systemsb

on

  • 19,423 views

 

Statistics

Views

Total Views
19,423
Views on SlideShare
18,928
Embed Views
495

Actions

Likes
14
Downloads
6
Comments
2

6 Embeds 495

http://my.framingham.k12.ma.us 443
http://mrrogerseconclass.blogspot.com 32
http://www.mrrogerseconclass.blogspot.com 9
http://mrrogerswebsite.weebly.com 7
http://time4study.com 3
http://184.105.252.34 1

Accessibility

Categories

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

The Four Economic Systemsb Presentation Transcript

  • 1. Objective: To cover the four types of economic systems
  • 2. Three Basic Questions of Economics
    • Nations like people have to make choices about what to produce
    • They must answer three questions
    • What goods and services should be produced
    • How should these goods and services be produced
    • Who will get the goods and services
  • 3. Economic System
    • An economic system is the rules a country follows in answering the three basic questions.
    • The four types of economic systems are:
    • Traditional
    • Command
    • Market
    • Mixed
  • 4. Traditional System
    • Is based on what was done in the past
    • Very primitive and simple
    • Everyone shares equally in goods and services
  • 5. Command Economy
    • Government decides what is best for the people
    • Government controls land, labor, capital
    • Government decides who will work, where they will work, and what will be made
    • Finally government decides who will receive the goods and services
  • 6. Market Economy
    • Is the opposite of a command economy
    • Each person answers the three basic questions for themselves
    • The most important part is that goods and services are bought and sold freely
  • 7. Mixed Economy
    • Most nations today have a mixed economy
    • A mixed economy is one that is part command and part market economy
    • U.S.A. has a mixed economy
  • 8.