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Where one grows their own food and makes their own goods. Trade amongst others to obtain what they need. Mostly in remote areas.

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Presentation on theme: "Where one grows their own food and makes their own goods. Trade amongst others to obtain what they need. Mostly in remote areas."— Presentation transcript:

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2 Where one grows their own food and makes their own goods. Trade amongst others to obtain what they need. Mostly in remote areas

3 Private ownership of stores and Businesses. Free Trade. Competition amongst Business. Consumers can Buy and Sell what they want. Prices determined by Supply and Demand. Called Capitalism.

4 A system in which the government makes all economic decisions. Government decides what goods are produced. How much to produce. What the prices will be. Called Communism

5 Countries with Strong Economies. High quality of life. Highly industrialized Good Healthcare and Education High per capita Gross domestic Product Technologically Advanced

6 Countries on the rise financially. Less productive economies Lower quality of life Much of the population are Farmers. Poorer education and healthcare Low per capita Gross domestic product. Less Technological


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