economic systems

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powerpoint presentation economic systems how the government influences how i make money. quick review: take out a sheet of paper and answer the following questions: what are goods? what are services? what are resources? what is scarcity? economic systems def. the method used by a society to produce and distribute goods and services. or, how the government tells us what we can get and how to get it! all economic systems must consider the following questions: what goods and services to produce? how will they produce them? who will get them? how much will they produce now, and how much later? each economic system answers these questions in a different way. types of economic systems there are 3 basic types of economic systems. 1. traditional economy economic questions are answered by habits and customs (the way it has always been done) children work the same jobs parents worked, often farming …
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erican free market economy economic freedom: individuals have the right to choose competition: more than one producer of good/services insures choice private property: individuals have the right to own their own property, including business features of american free market economy (cont) self-interest: individuals make decisions based on what is best for them voluntary exchange: individuals may freely buy and sell goods profit motive: individuals are driven by a desire to profit (make money) features of american command economy government regulation of some business practices ex. wages, labor hours, safety practice. government limits certain choices ex. cannot buy or produce certain goods/services government provides aid to the needy ex. medicare, medicaid, welfare my pizzeria how would my pizzeria function under different economic systems? my pizzeria in a free market i answer the basic economic questions! i determine how much cheese and pepperoni goes on the pizza i determine the quality of …
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powerpoint presentation economic systems how the government influences how i make money. quick review: take out a sheet of paper and answer the following questions: what are goods? what are services? what are resources? what is scarcity? economic systems def. the method used by a society to produce and distribute goods and services. or, how the government tells us what we can get and how to get it! all economic systems must consider the following questions: what goods and services to produce? how will they produce them? who will get them? how much will they produce now, and how much later? each economic system answers these questions in a different way. types of economic systems there are 3 basic types …

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