1. ADVISORY
D: 9/26/12
A: Grade Checks
S: What work are you missing?
H: None

2. D: 9/26/12
A: Government and Economy Discussion and
Notes
S: How does the availability of resources create
global interdependence?
H: Natural Hazard Sheet Due TOMORROW
w.o.d: Market Economy
Warm-Up: Based on the next picture describe
economy.

4. What is Economy?

5. Word Definition Sentence Picture
An economy in Business
which owners in a
consumers help
Market determine what
free
economy is to be enterprise
produced by system sell
buying or not their goods in
buying certain a market
goods and economy.
services.

7. Types of Production Recap
• What are the three types of production?
• What are service jobs?
• What is industrial production?
• What are the main products of agricultural
production?

8. Economic Systems Recap
• Why do culture develop economic systems?
• How does a ______________________ or
bartering system work?
• How do cultures develop more complex systems
of production?

9. Economic Systems Recap
• A free market economy is _________________ driven and
ruled by ____________ it is not _________________ by
one person, organization or institution. Companies decide
what to _____________, how much people get paid and
what to _________ for products so they make a
_____________
• A command economy the ______________________ owns
all significant enterprises and closely _______________ all
economic activities. The government controls
_________________, dictates the rights of
________________ and controls all of the
__________________. The distribution of wealth is
skewed to those who ________ rather than those who
_______________.

10. Characteristics of Developed Countries
• Strong economies
• Good health care
• High literacy
• Lots of technology
• Urban Living

11. Characteristics of Developing Countries
• 2/3 of the world live in developing countries
• Poor
• Small economies
• Lack of health care
• Low literacy
• Minimal technology
• Over crowded cities