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Published bySarah Parks Modified over 8 years ago
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Economic Market Systems I can explain the production, distribution and consumption of goods and services in economy.
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Learning Target ▪ I can explain the production, distribution and consumption of goods and services in economy.
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Command Economy ▪ Controlled by the government ▪ Government decided what is produced ▪ Central authority sets the prices of goods and services
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Developing Economy ▪ Not yet industrialized ▪ Still developing
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Traditional Economy ▪ Most people earn their living based on the tradition of their family and the area.
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Market Economy Private ownership Private ownership decides what gets produced Supply and Demand determines the price of products
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Mixed Economy Is a mixture of one or more economic systems.
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Where do we find these types of economies? CommandDevelopingTraditionalMarket North Korea Cuba Chad India Somalia Bangledesh Vietnam Indonesia United States Germany Great Britian
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Your Mission… ▪ Create a postage stamp for each individual system. ▪ The stamp should be colorful and creative. ▪ All art should reflect the characteristics of each system.
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