econ

1. Name
That
System

2. Determine for each slide
whether the economic system
being illustrated is
TraditionalTraditional
CommandCommand
OR
MarketMarket

3. 1. Actions in this
type of economy
relate to ritual,
habit and custom.

4. TRADITIONAL
ECONOMY

5. 2. A strength of this
type of economy is
its ability to rapidly
change in a short
period of time

6. COMMAND
ECONOMY

7. 3. A weakness of this
economy is its failure
to provide for the
weak, the sick, the old
and the very young
who cannot be
productive

8. Market
economy

9. 4. Name a stable,
predictable and
continuous
economic system

10. TRADITIONAL
ECONOMY

11. 5. This economic system
does not meet the needs
and wants of citizens
because the central
authority makes all
decisions, rather than
the individual

12. COMMAND
ECONOMY

13. 6. This economic
system
discourages
new ideas or
change

14. TRADITIONAL
ECONOMY

15. 7. This economic
system provides a
high degree of
consumer
satisfaction
because individuals
make most of the

16. Market
economy

17. 8. This economic
system offers a
variety of goods
and services
because new ideas
are encouraged

18. Market
economy

19. 9. This economic system
lacks incentive for
individuals because a
central authority
controls the factors
of production; there is
no private property

20. COMMAND
ECONOMY

21. 10. This economic
system has a
notable lack of
government
interference

22. Market
economy

23. 11. Which system would these
people do well in?

24. Market
economy

25. 12. If you believed in free
enterprise, which system would
you MOST disagree with?

26. COMMAND
ECONOMY

27. 13. “WE COULD SELL OUR
PRODUCTS FOR PERSONAL
PROFIT IN WHICH SYSTEM?” - -
Name that system!

28. Market
economy

29. 14. “Our grandmothers taught us to
weave, and we have taught our
daughters.” - Name that system!

30. TRADITIONAL
ECONOMY

31. 15. “We slaughter the hogs because
the government tells us to. I hate this
job. I’d rather be a carpenter.” -
Name that system!

32. COMMAND
ECONOMY

33. 16. “We slaughter hogs better than any
of our competitors!” -
Name that system!

34. Market
economy

35. 17. “We’ve been quilting for our
community for decades. We’re very
talented.” –
Name that system!

36. TRADITIONAL
ECONOMY

37. 18. “I really hate quilting. I wish I could
go fishing instead, but girls don’t fish
in our community.” –
Name that system!

38. TRADITIONAL
ECONOMY

39. 19. “We wait for the government to give us
rations of meat, but there is never
enough.” – Name that System!

40. COMMAND
ECONOMY

41. 20. “People who cannot work are not
rewarded in this system.” – Name that
system!

42. Market
economy

43. 21. “Goods are moving in and out
of our country every day because
of consumer demand.” – Name
that System!

44. Market
economy