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Economic Systems

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Economic Systems
All Economic Systems seek to answer the three basic economic questions ,[object Object],[object Object],[object Object]
Traditional Economies ,[object Object],[object Object]
Traditional economies ,[object Object],[object Object],[object Object]
Examples of traditional economies ,[object Object]
The Mbuti in Central Africa
The Inuit of Northern Canada
How do traditional economies answer the three basic questions? ,[object Object],[object Object],[object Object]
Advantages of traditional economy ,[object Object],[object Object]
Disadvantages of Traditional economies ,[object Object],[object Object]
Command Economies ,[object Object]
Examples of command economies ,[object Object],[object Object]
 
North Korea
How do command economies answer the basic economic questions? ,[object Object],[object Object],[object Object]
Advantages to command economy ,[object Object],[object Object],[object Object]
Disadvantages of command economies ,[object Object],[object Object],[object Object],[object Object]
Market Economies ,[object Object],[object Object]
Examples of market economies ,[object Object]
Advantages of Market Economies ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Disadvantages of Market Economies ,[object Object],[object Object],[object Object],[object Object]
What kind of economy do the U.S.A., Canada, and the U.K. really have? ,[object Object],[object Object],[object Object]
Mixed Economic systems ,[object Object],[object Object]

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