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Economic Systems

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Discovering Economic Systems UNT in partnership with TEA, Copyright © 2009. All rights reserved.
“ No economy ever stands still.” Sir Roy Harrod, The British Economy UNT in partnership with TEA, Copyright © All rights reserved.
Student Expectation ,[object Object],[object Object],[object Object],[object Object],[object Object],UNT in partnership with TEA, Copyright © All rights reserved.
Traditional Economy ,[object Object],[object Object],[object Object],[object Object],UNT in partnership with TEA, Copyright © All rights reserved.
Traditional Economy Characteristics ,[object Object],[object Object],[object Object],UNT in partnership with TEA, Copyright © All rights reserved.
Planned Economy ,[object Object],UNT in partnership with TEA, Copyright © All rights reserved.
Planned Economy Characteristics ,[object Object],[object Object],[object Object],UNT in partnership with TEA, Copyright © All rights reserved.
Market Economy ,[object Object],UNT in partnership with TEA, Copyright © All rights reserved.
Market Economy Characteristics ,[object Object],[object Object],[object Object],UNT in partnership with TEA, Copyright © All rights reserved.
Mixed Economy ,[object Object],UNT in partnership with TEA, Copyright © All rights reserved.
Mixed Economy Characteristics ,[object Object],[object Object],UNT in partnership with TEA, Copyright © All rights reserved.
[object Object],Discovering Economic Systems UNT in partnership with TEA, Copyright © All rights reserved. TRADITIONAL PLANNED MARKET MIXED An economic system heavily influenced by habits, customs, and religious beliefs. Government directly influences and vastly controls business practices due to ownership of natural and capital resources. Privately owned factors of production (i.e., factories and machines). Prices are influenced by supply and demand. An economic system that combines elements of all the other basic systems. Characterized by very low unemployment rate. Considered synonymous with a capitalistic economy. Individual freedom is limited (roles of individuals are static from generation to generation). Considered synonymous with either a communist or socialist economy depending upon the degree of government control. Individual’s purchasing decisions determines the types of products and services offered. Minimal government involvement in business transactions
[object Object],[object Object],Discovering Economic Systems UNT in partnership with TEA, Copyright © All rights reserved.
[object Object],[object Object],Discovering Economic Systems UNT in partnership with TEA, Copyright © All rights reserved.
Summary Review ,[object Object],[object Object],[object Object],[object Object],[object Object],UNT in partnership with TEA, Copyright © All rights reserved.
Resources ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],UNT in partnership with TEA, Copyright © All rights reserved.

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Economic Systems

  • 1. Discovering Economic Systems UNT in partnership with TEA, Copyright © 2009. All rights reserved.
  • 2. “ No economy ever stands still.” Sir Roy Harrod, The British Economy UNT in partnership with TEA, Copyright © All rights reserved.
  • 3.
  • 4.
  • 5.
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Editor's Notes

  1. http://www.yourdictionary.com/quotes/economy
  2. Texas Education Agency TEKS - - Principles of Business, Marketing & Finance
  3. From Introduction to Business
  4. http://www.economywatch.com/economy-articles/command-economy.html
  5. http://www.economywatch.com/economy-articles/command-economy.html
  6. http://www.economywatch.com/world_economy/world-economic-indicators/mixed-economy.html
  7. Activity and answer key are in the Microsoft Word document, Discovering Economic Systems.
  8. Student web page http://www.econedlink.org/lessons/index.php?lesson=EM322 Teacher web page http://www.econedlink.org/lessons/index.php?lesson=322&page=teacher The Comparative Worksheet link on the website is inoperable. Make copies of the worksheet found on pages 3 and 4 of the Microsoft Word Discovering Economic Types document.
  9. Activity and rubric are in the Microsoft Word document, Discovering Economic Systems.