This presentation was designed for middle school students

1. Economic Systems
• Free Market
• Command
• Socialist

3.  Individual Freedoms
 Competition
 Limits

5. High GDP
• Rich countries produce more goods and services and so
they have a higher GDP
Low GDP
• Poorer countries usually have limited resources

6.  No one gets to be an entrepreneur
 Only the government decides what happens
 Consumers have little or no choice

7. Free Market Economy Command Economy
What is the governments
role?
Makes few decisions Makes all decisions
Does the system run on
competition or
cooperation?
Competition Cooperation
Which principle guides
the economy?
Supply and Demand Central planning
Who own property and
businesses?
Individuals and groups The government
Does the system
emphasize freedom?
Yes no

8.  What would an advantage be of living in a
command economy?
 What would a disadvantage be?

10.  Socialism generally determines a higher
tolerance for a tax burden on individuals
 All citizens have access to free health care
 Social welfare programs are expanded.