What do they make? Why do they make it? Who makes it? Who buys it?

Slides:

Advertisements

Similar presentations

Objective 2.04 Understand the United States’ economic system.

Advertisements

What are the three Economic Questions?

Why do Mommy and Daddy have to go to work?????. Your parents work because they have to earn money to take care of themselves and you! When you are a grown.

MARKETING 3.04 – COMPARING ECONOMIC SYSTEMS.

Chapter 13: What is an economy?

What should be produced? How should it be produced? Who should get it?

Economic Systems SS6E5 A.

At what age do children start to develop brand loyalty?”

Economic Systems Traditional Economy.

America’s Economic System What are the benefits of America’s free economic system? What role does government play in the American economic system? What.

American Free Enterprise

By: Lauren Jones & Aaliyah Bailey Period 2- S.S Feb. 9, 2012.

From LEAD Conference in Chicago, Il 2012 By: Alyssa Bradley and Paul Becker.

Unit 1-2: Basic Economic Concepts

Unit 1: Basic Economic Concepts

Economic Systems Defined and Explained

Today’s Objectives  Introduce Chapter 3 – Markets  You will… Have a better understanding of PPF and productivity Study for your quiz next class (summative.

There are 4 different types of economic systems: 1. Market economic system (pg R32) - this is an economic system based on individual choices and voluntary.

WARM UP Scenario: What Would You Do? What goods and services will be produced? Of the following, which will you produce for your people? Choose ONLY 4.

Chapter 2 – Economics.  Four different types of economic systems have evolved throughout history as cultures, societies, and nations have struggled with.

Chapter #3 Section #3 Resources and world trade. Economic Systems Used Around the World.

Mr. Mayer Economics Capitalism and Free Enterprise.

Economic Systems. The Three Basic Economic Questions:  What should we produce?  How should we produce?  For whom should we product?

 Graph the following. PossibilitiesT-ShirtsHats A5000 B C300 D E F0500.

AP ® Economics. REVIEW 1.Explain relationship between scarcity and choices 2.Differentiate between positive & normative 3.Differentiate between price.

Fast Food Should it be banned or regulated by the government?

Georgia Performance Standard and Essential Question

Economic Systems Capitalism, Socialism & Communism Liberty or Equality?

 OPENER #4  What were some of the negative effects of the railroads?  Why were railroad reforms unsuccessful?

HAVE OUT HW !! In your notebook: What is capitalism? Which characteristic of capitalism is more valuable to you? Why.

Economic Systems. Traditional Command Market Objectives Identify three questions that all economic systems must answer. Describe a traditional economy.

The Last Word: Ch 3 Review due and Unit 1 Test - Wednesday.

ECONOMIC SYSTEMS. What is an Economic System? Economic system – how a country decides to create, buy and sell products & resources 3 Basic Questions to.

GOVERNMENT ECONOMIC SYSTEMS. WHAT IS ECONOMICS? The study of how goods and services are produced, distributed, and consumed. The people who make goods.

American Free Enterprise Chapter 19 Section 3. Section 1- Advantages of Free Enterprise System U.S. is a capitalist economic system U.S. is a capitalist.

What is Scarcity? The idea that there are not enough resources to meet everyone’s needs & wants.

Economic Geography People earning a living Economic Systems 4 money making activities: primary, secondary, tertiary & quaternary activities. 4 money.

What are the three Economic Questions? Students will compare the major economic systems in the world and examine their ability to provide citizens with.

Mr. Bestor US Government. Political Systems Countries can have a variety of political systems. They include: Direct Democracy Representative Government.

Economic Systems The Rules and Incentives in an Economy.

Economic Systems. Three Basic ?s What goods should be produced? How should the goods be produced? Who will get the goods and how will they be distributed?

Market Oriented Economic Systems. Basic Principles Individuals should have freedom of choice  Elect people to represent us in government  Where we work.

 No economic system is completely command or completely market.  There’s a mixture of government in a market economy.  There’s also a mixture of markets.

Economic Questions, Freedoms, & Social Goals.  Lived in Scotland from  Wrote The Wealth of Nations  Believed in Laissez Faire Economics 

Personal Finance April 17, Money Management  Everyone must make choices about what to do with their income, including you  Income is money earned.

World Economic Systems

COMMUNISM AND CAPITALISM Comparing the Economic Systems.

 All societies have an economic system or a way of providing for the wants and needs of their people.  An Economic Systems function is to produce and.

What is an Economy?. Economics is the study of how individuals and governments use scarce resources to produce and buy the goods they want/need. Scarcity.

MT2: Industrialism and Imperialism LT#2: Describe the development and effects of capitalism, utopianism, socialism and communism.

Chapter 3:The American Free Enterprise System Advantages of the Free Enterprise System.

ECONOMICS FREE ENTERPRISE SYSTEM & SUPPLY AND DEMAND.

Economic System. When deciding how to use it’s limited resources, every country answers 3 questions about production and distribution. 1. What will be.

ECONOMIC SYSTEMS WHAT ARE THEY? WHAT PURPOSE DO THEY SERVE?

Economic Systems and the American System. Section 1.

C HAPTER 2: E CONOMIC S YSTEMS AND THE A MERICAN E CONOMY Section 1: Economic Systems.

The American Economy What are the similarities and differences between traditional, market, mixed, and command economies?

Budgets and Businesses Workshop. Budget: is a plan that shows income, spending and saving. Income: Spending: Saving:

Eco 2/1 Economic Systems. Way in which a nation uses its resources to satisfy its people’s needs and wants.

Introduction to Economics What do you think of when you think of economics?

1-3.  Identify the three economic questions  Differentiate among the main types of economic systems  Describe the economic system of the United States.

Economic Systems U.S. GOVERNMENT CLASS – UNIT 1. The Role of Economic Systems  Governments around the world must make economic decisions that include:

You in the Economy Unit 2. How does the economy work? What makes it run? You make the economy run. You and your spending decisions are the economy.

Types of Economies.

Economic Systems Spring Semester 2018 Rixie.

What do they make? Why do they make it? Who makes it? Who buys it?

World Economic Systems

Types of Economies – u6 day 2

Economic Systems 1-3.

Presentation transcript:

What do they make? Why do they make it? Who makes it? Who buys it?

Should the government be involved in the economy?

CommandFree CubaUSAAustralia Economies fall along a spectrum: - Some have a lot of gov’t involvement (command) - Some have little gov’t involvement (free) - Some have a mixture of gov’t involvement (mixed)

CommandFree CubaUSAAustralia Healthcare Gov’t pays your medical bills Pay your own medical bills

CommandFree CubaUSAAustralia Business Gov’t regulates restaurants and food producers no regulation.

CommandFree CubaUSAAustralia Choice Economy will make hammer pants People will make whatever they want

CommandFree CubaUSAAustralia Hammer Time! Economy will make hammer pants People will make whatever they want

CommandFree CubaUSAAustralia Choice only music will be cats playing heavy metal Listen to whatever you want

CommandFree CubaUSAAustralia Choice Gov’t decides who goes to school and what you will do for a living. Want to go to school. You pay for it.

CommandFree CubaUSAAustralia property Everyone gets a home, but it’s owned by the gov’t Buy your own home

CommandFree CubaUSAAustralia profit No one makes money. gov’t provides you with what you need Make $$$, buy what you want.

CommandFree CubaUSAAustralia Competition No Competition. One gov’t restaurant. McDonald’s v. Burger King. Competition makes them better.

CommandFree CubaUSAAustralia Drink Sweet Tea. Choice Sweet Tea is illegal because it unhealty.

CommandFree CubaUSAAustralia Healthcare Gov’t pays your medical bills Pay your own medical bills Poor & old get free healthcare

CommandFree CubaUSAAustralia School Lunch Everyone gets a free meal, but the same meal everyday No money, starve. Low income students get free meal.

CommandFree CubaUSAAustralia College Smart go for free, but the gov’t picks your job. Smart and have $. You can go. Gov’t will help some people.

CommandFree CubaUSAAustralia Jobs Gov’t always has a job for you, but you will not be rich. Lost your job. Too bad. Gov’t will help people in need.

CommandFree CubaUSAAustralia Choice Get what the gov’t gives you. Buy whatever you want. Some things you can have, some you can’t.