Economy with images

1. Economy
What is economy & what are its types?

2. You can't always get what
you want
5/8/20Mr. Magdy Abdelsattar

3. You can't always get what
you want
• Scarcity is the fundamental challenge confronting
all individuals and nations. We all face limitations...
so we all have to make choices.
• How we deal with these limitations—that is, how we
prioritize and allocate our limited income, time, and
resources—is the basic economic challenge that
has confronted individuals and nations throughout
history.
5/8/20Mr. Magdy Abdelsattar

4. Choice ?
5/8/20Mr. Magdy Abdelsattar

5. Choice ?
5/8/20Mr. Magdy Abdelsattar

6. Choice ?
5/8/20Mr. Magdy Abdelsattar

7. Consumers
5/8/20Mr. Magdy Abdelsattar

8. How it works?
5/8/20Mr. Magdy Abdelsattar

9. How it works?
5/8/20Mr. Magdy Abdelsattar

10. How it works?
5/8/20Mr. Magdy Abdelsattar

11. How it works?
5/8/20Mr. Magdy Abdelsattar

12. How it works?
5/8/20Mr. Magdy Abdelsattar

13. How it works?
5/8/20Mr. Magdy Abdelsattar

14. How it works?
5/8/20Mr. Magdy Abdelsattar

15. The Four Types of Economic Systems
• Four very different types of Economic Systems have
evolved as different societies have placed different
emphasis on different goals and priorities in their
efforts to answer the Three Key Economic Question.
5/8/20Mr. Magdy Abdelsattar

16. The choice tree
5/8/20Mr. Magdy Abdelsattar

17. Traditional Economy
• Family or Community
based Economic
System that relies on
custom and ritual to
make its choices.
• Examples:
o Aborigines
o Amazon Tribes
o Any Substainance
Economy
5/8/20 Mr. Magdy Abdelsattar

18. Market Economy
• Individual or
Consumer based
Economic System that
relies on the
consumption choices
of consumers.
• Examples:
o The U.S.A.
o Japan
o Any Capitalist
Economy
5/8/20 Mr. Magdy Abdelsattar

19. Command Economy
• Centrally Controlled
Economy where the
Government makes all
decisions.
• Examples:
o Cuba
o China
o Any Communist Country or
Dictatorship
5/8/20 Mr. Magdy Abdelsattar

20. Mixed Economy
• Economic System that
incorporates some
Governmental involvement
into a Market Based
Economy.
• Examples:
o The U.S.A.
o Japan
o Most “Modern”
Economies
5/8/20 Mr. Magdy Abdelsattar

21. Summary
5/8/20Mr. Magdy Abdelsattar

22. Summary
5/8/20Mr. Magdy Abdelsattar

23. Matrix
5/8/20Mr. Magdy Abdelsattar

24. Matrix
5/8/20Mr. Magdy Abdelsattar

25. Relations
5/8/20Mr. Magdy Abdelsattar

26. Globalization
5/8/20Mr. Magdy Abdelsattar