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Types of Economies

Types of Economies. Command, Traditional, Market & Mixed. What you need. Marketing Essentials textbook Markers or colored pencils Blank sheets of computer paper CREATIVITY!!!!!. Make Your Chart!. Student Name. Command Economy.

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Types of Economies

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  1. Types of Economies Command, Traditional, Market & Mixed

  2. What you need • Marketing Essentials textbook • Markers or colored pencils • Blank sheets of computer paper • CREATIVITY!!!!!

  3. Make Your Chart! Student Name

  4. Command Economy • On your chart in one open box, draw at least 2 pictures of the most annoying things your parents tell you to do • Label it Command Economy • Examples: Make your bed, clean your room, dust the living room, study, be home by 10, etc.

  5. Command Economy • Imagine a world (economy) where the GOVERNMENT tells you what to about EVERYTHING. • They make all decisions: where you live, what your job is, how many children you can have, what your country can and cannot produce, etc!

  6. Who has a Command Economy? • Write these examples down on your chart: • Cuba • North Korea • Former Soviet Union • Define “Command Economy” • And write it on your chart

  7. Traditional Economy Cuba N. Korea Fmr. Svt. Union Cooking Supper I’ll show you how to cook. Command Economy Dusting “Economy based on TOTAL Governmental Control…All products, prices, sizes, colors – decided by government.” “ The ways to produce products are passed won from one generation to the next.” Market Economy Government regulates for safety, pollution, utility rates. “People, rather than the government own resources and run business.” USA Mixed Economy NO Government Interference “A mixture of a market economy that included some aspects of command and traditional economies.” …..CAPITALISM…..

  8. What about Traditional Economy? • Choose another box on your chart, define “Traditional Economy,” and illustrate !

  9. Don’t forget “Market Economy” • Add this to one of the open boxes on the chart • Don’t forget the definition • Add a couple of illustrations!

  10. Where do we fit? • If you had to pick which economy we MOST represent, what would you say? • Hopefully you said MARKET! Think about it.. • Traditional? Nope! We sure do love our technology. • Command? Nope! If I wanted to be an auto mechanic or nurse, I could be! If I wanted to sell corn on the side of the road, I could! • Market? Produces and consumers have a say… that would resemble us… but why aren’t we a complete market economy?? • That darn government! It does have some say: speed limits, the fact that you HAVE to go to school, laws against crimes, etc.

  11. So… what else? • On your sheet of paper, draw arrows pointing from all 3 squares of your chart to the last open box • Title it Mixed Economy Mixed Economy

  12. Mixed Economy • One could say that a Mixed Economy represents the other 3 (mostly market and command) • It allows citizens the freedom they deserve while making sure we live in a FAIR society. • Does our economic system have aspects of: • Traditional? Sure, we have traditions! Who watches fireworks on the 4th of July? • Market? Absolutely, we produce goods we want & we can buy what we want! • Command?Definitely, our government steps in when needed!

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