Types of economies - PowerPoint PPT Presentation

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Types of economies

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An Economy Refresher: An economy is an organized way a nation provides for its people. Remember that no economy is purely one thing; they are mixed. – PowerPoint PPT presentation

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Title: Types of economies


1
Types of economies
2
An Economy
  • Refresher An economy is an organized way a
    nation provides for its people. Remember that no
    economy is purely one thing they are mixed.

3
Types of economies
  • Name the three types of economies
  • 1.
  • 2.
  • 3.

4
Market Economy
  • In a pure market economy there is no government
    involvement. The market (business owners,
    businesses) is free to make their own decisions.

5
Command Economy
  • in a pure command economy the government makes
    all economic decisions. They decide what
    products are needed and what products are made
    for a consumers purchase

6
Traditional Economy
  • In a pure traditional economy communities use
    primitive tools and methods to harvest and hunt
    for food, often resulting in little economic
    growth. Traditional economies are often found in
    under developed regions with high levels of
    subsistence farming. (This usual takes place in
    countries that are just forming The USA during
    the early 1900s).

7
Americas Economy
  • the United States constitutes a mixed economy
    (substantial market regulation, extensive
    government-funded research and development,
    Medicare), yet at the same time it is
    foundationally rooted in a market economy.
    Meaning business owners can make their own
    decisions on what to product and what to sell.

8
What does our government get involved in???
  • 1.
  • 2.
  • 3.
  • 4.
  • 5.

9
Assignment
  • On a clean sheet of paper you are to explain in
    detail why you believe each economy makes sense.
    Use examples based on your knowledge of our
    economy. What you think government should and
    should not be involved in. what you think the
    citizens should be involved in or not involved
    in.
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