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MARKETING 3.04 – COMPARING ECONOMIC SYSTEMS. THREE ECONOMIC QUESTIONS  WHAT GOODS AND SERVICES SHOULD BE PRODUCED?  HOW SHOULD THE GOODS AND SERVICES.

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Presentation on theme: "MARKETING 3.04 – COMPARING ECONOMIC SYSTEMS. THREE ECONOMIC QUESTIONS  WHAT GOODS AND SERVICES SHOULD BE PRODUCED?  HOW SHOULD THE GOODS AND SERVICES."— Presentation transcript:

1 MARKETING 3.04 – COMPARING ECONOMIC SYSTEMS

2 THREE ECONOMIC QUESTIONS  WHAT GOODS AND SERVICES SHOULD BE PRODUCED?  HOW SHOULD THE GOODS AND SERVICES BE PRODUCED?  FOR WHOM SHOULD THE GOODS AND SERVICES BE PRODUCED?

3 COMPARING ECONOMIES TRADITIONAL ECONOMY THREE QUESTIONS ANSWERED: “How things have always been done” TRADITION DECIDES EXAMPLES: Amish Community Indian Reservations Indian Reservations

4 COMPARING ECONOMIES MARKET ECONOMY NO GOVERNMENT INVOLVED, THE MARKET ANSWERS THE THREE QUESTIONS: Consumers decide “WHAT.“ Businesses decide “How.” Consumers who are willing to pay determines the “FOR WHOM.”

5 COMPARING ECONOMIES COMMAND ECONOMY THE GOVERNMENT ANSWERS ALL THREE QUESTIONS: GOVERNMENT RUNS BUSINESSES. GOVERNMENT RUNS BUSINESSES. GOVERNMENT EMPLOYS PEOPLE. GOVERNMENT EMPLOYS PEOPLE. GOVERNMENT DECIDES WHO RECEIVES PRODUCTS. GOVERNMENT DECIDES WHO RECEIVES PRODUCTS.

6 MIXED ECONOMIES  NOT COMPLETELY CONTROLLED BY THE GOVERNMENT.  NOT A PURE MARKET SYSTEM.  A MIX OR BLEND OF BOTH.

7 CAPITALISM PEOPLE ELECT THEIR GOVERNMENT OFFICIALS WHO REPRESENT THEIR INTERESTS. PEOPLE ELECT THEIR GOVERNMENT OFFICIALS WHO REPRESENT THEIR INTERESTS. (UNITED STATES, JAPAN)

8 COMMUNISM  GOVERNMENT CONTROLLED BY ONE PARTY.  PEOPLE ARE ASSIGNED JOBS.  LITTLE FREEDOM OF CHOICE.  PEOPLE DO NOT PAY FOR MEDICAL CARE. (CUBA, VIETNAM, NORTH KOREA)

9 SOCIALISM  COUNTRIES ARE CAPITALISTIC WITH INCREASED GOVERNMENT INVOLVEMENT.  REDUCES THE DIFFERENCE BETWEEN RICH AND POOR.  BASED ON WELFARE FOR THE PEOPLE. (CANADA, FRANCE, GERMANY)

10 Works Cited 

11 Thank you!


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