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Warm-up for 01.18.12

Warm-up for 01.18.12. Today’s standard. SS7E5 The student will analyze different economic systems. Compare how traditional, command, and market economies answer the economic questions of (1) what to produce, (2) how to produce, and (3) for whom to produce.

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Warm-up for 01.18.12

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  1. Warm-up for 01.18.12

  2. Today’s standard • SS7E5 The student will analyze different economic systems. • Compare how traditional, command, and market economies answer the economic questions of (1) what to produce, (2) how to produce, and (3) for whom to produce. • b. Explain how most countries have a mixed economy located on a continuum between pure market and pure command c. Compare and contrast the economic systems in Israel, Saudi Arabia, and Turkey.

  3. The 3 basic questions that every economic system must are: 1. ProductionWhat will be produced? • ex. cars, airplanes, corn, computers 2. DistributionHowwill good and services be produced? • How will goods and services be made? What resources will be used? • ex. machines, assembly lines, individual skilled workers, etc.; oil, trees, aluminum 3. ConsumptionWho will consume the goods and services? • ex. the government, schools, everyday shoppers

  4. Economic Systems of Southwest Asia (The Middle East)SS7E5 The student will analyze different economic systems. A. Compare how traditional, command, and market economies answer the economic questions of (1) what to produce, (2) how to produce, and (3) for whom to produce.  B. Explain how most countries have a mixed economy located on a continuum between pure market and pure command. C. Compare and contrast the economic systems in Israel, Saudi Arabia, and Turkey.

  5. Economic Systems Continuum

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