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Economies Around the World

Economies Around the World. Mrs. Carrie Hunnicutt 6 th Grade Social Studies. Why different economies?. Questions to ask when determining what type of an economy a country has: What to produce? How to produce? How much to produce? For whom to produce?. Traditional Economy.

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Economies Around the World

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  1. Economies Around the World Mrs. Carrie Hunnicutt 6th Grade Social Studies

  2. Why different economies? Questions to ask when determining what type of an economy a country has: • What to produce? • How to produce? • How much to produce? • For whom to produce?

  3. Traditional Economy Based on custom and tradition Less demand on resources as things are made only when they are needed No surplus

  4. Command Economy • Government makes all the decisions • Government decides how things are produced and distributed • Government decides the prices

  5. Market Economy Supply and demand determines the prices of goods This includes most economies today Little government intervention

  6. Time to Build! Count off into three groups Using your bucket of supplies, construct the economy that your group has been assigned

  7. Tell the Class • Pick a spokesperson from your group • Explain your assigned economy to the class • Answer the four questions that determine the type of economy

  8. Works Cited Image of Earth http://herokids.files.wordpress.com/2008/04/earth.jpg Images of traditional economy – farming http://siteresources.worldbank.org/INTTHAILAND/Images/news-events/417885-1172720323378/2007oct_weather-index_p03c.jpg Image of traditional economy – baskets http://www.sil.org/mexico/nahuatl/zacatlan/sup/01f-Alfarera-nhi.jpg Image of Cuba http://defencedebates.files.wordpress.com/2009/02/fidel.jpg Image of Iran http://msnbcmedia1.msn.com/j/msnbc/Components/Photos/060905/060905_iran_vmed_3a.widec.jpg Image of North Korea http://www2.warwick.ac.uk/fac/soc/pais/currentstudents/moduledocs/pgmodules/is/north_korea.jpg Image of American flag http://www.anbsoft.com/images/usflag_med.jpg Image of construction http://www.pass.sa.edu.au/features/insmusic/construct.gif Image of question mark http://richardwiseman.files.wordpress.com/2009/05/question-mark3a.jpg

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