traditional economies command economies market economies mixed economies four types of economics

Download Traditional Economies Command Economies Market Economies Mixed Economies Four Types of Economics

Post on 30-Mar-2015




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Slide 2 Traditional Economies Command Economies Market Economies Mixed Economies Four Types of Economics Slide 3 Traditional economies are found in rural, non-developed countries Slide 4 Some parts of Asia, Africa, South America and the Middle East have traditional economies Slide 5 Customs govern the economic decisions that are made (traditions) Slide 6 Advanced- technology is not used in traditional economies. Slide 7 Farming, hunting and gathering are done the same way as the generations before Slide 8 Economic activities are usually centered toward the family or ethnic unit Slide 9 Men and Women are given different economic roles and tasks Slide 10 Slide 11 The government or other central authority makes decisions and determines how resources will be used Slide 12 Change can occur relatively easily Slide 13 There is little individual freedom Slide 14 There is no competition Slide 15 Businesses are not run to make a profit Slide 16 Consumers have few choices in the market place Slide 17 Factories are concerned with quotas Slide 18 Shortages are common because of poorly run factories and farms Slide 19 The government dictates the job in which you work Slide 20 The government sets the prices of goods and services Slide 21 Examples of command economies : Cuba, North Korea and the Peoples Republic of China Slide 22 Slide 23 Resources are owned and controlled by individuals Slide 24 Economic decisions are made by individuals competing to earn profits Slide 25 Individual freedom is considered very important Slide 26 Economic decisions are made by the basic principles of supply and demand Slide 27 Profit is the motive for increasing work rather than quotas Slide 28 Slide 29 Government and individuals share the decision making process Slide 30 Government guides and regulates production of goods and services offered Slide 31 Individuals own the means of production Slide 32 Government Protects consumers and workers from unfair policies Slide 33 Most effective economy for providing goods and services Slide 34 Four Types of Economics Traditional Economies Command Economies Market Economies Mixed Economies Review Slide 35 Slide 36 Slide 37 Slide 38