1. Economics and Emerging Markets Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall

2. International Business 5e Chapter 4 - 2 Discuss the decline of centrally planned economic systems Describe mixed economies and privatization Explain how a market economy functions and identify its primary features Identify ways to measure levels of development Discuss economic transition and the remaining obstacles for companies Chapter Preview

3. Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall International Business 5e Chapter 4 - 3 Economic Systems Centrally Planned Market Mostly private (individual or business) ownership of economic resources Government and private ownership of economic resoures split rather evenly Government ownership of economic resources and state planning Mixed

4. Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall International Business 5e Chapter 4 - 4 Centrally Planned Economy Government owns most land, factories, and other economic resources and plans nearly all economic activity Asia Central Europe Eastern Europe Latin America Russia (1917) China (1949) Cuba (1959)  Welfare of the group is paramount  Economic and social equality is the goal  “Communist” system is needed

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