Economic Systems

[object Object],[object Object],[object Object]

Objectives ,[object Object],[object Object],[object Object],[object Object],[object Object]

Vocabulary Break Economic System ,[object Object]

Three Economic Questions ,[object Object],[object Object],[object Object]

Traditional ,[object Object],[object Object],[object Object]

What to produce?-Traditional ,[object Object]

How to produce?-Traditional ,[object Object]

For whom to produce?-Traditional ,[object Object]

Positives of a traditional economy ,[object Object],[object Object],[object Object]

Problems with a traditional economy ,[object Object],[object Object]

Command ,[object Object],[object Object]

What to produce?-Command ,[object Object]

How to produce?-Command ,[object Object]

For whom to produce?-Command ,[object Object]

Positives of a command economy ,[object Object]

Problems with a command economy ,[object Object],[object Object],[object Object]

Market ,[object Object],[object Object]

What to produce?-Market ,[object Object],[object Object]

How to produce?-Market ,[object Object]

For whom to produce?-Market ,[object Object]

Positives of a market economy ,[object Object],[object Object]

Problems with a market economy ,[object Object],[object Object]

Vocabulary Break Continuum ,[object Object],[object Object]

Continuum of Economies Most Individual freedom No Individual freedom Pure Market Pure Command Most economies fall in between a pure market and a pure command economy on the continuum

Economic Systems

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Economic Systems