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Economics: Command or Market? A Comparative Study of Economic Systems in the Western Hemisphere

Explore the distinctions between command and market economies, including traditional economic practices and government structures in the Western Hemisphere. Learn about economic goals, advantages, and disadvantages prevalent in different systems. Identify key characteristics of varying government types and their impact on economic decision-making and societal values. Delve into the role of different governments in economic systems to understand how resources are produced, distributed, and utilized. Uncover the nuances of economic ideologies and their implications on wealth distribution and social stability.

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Economics: Command or Market? A Comparative Study of Economic Systems in the Western Hemisphere

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  1. Which is Which? Economics: Traditional Economics: Command or Market? All Things Government A Pictures is Worth A Thousand Words (and others too) 1pt 1 pt 1 pt 1pt 1 pt 2 pt 2 pt 2pt 2pt 2 pt 3 pt 3 pt 3 pt 3 pt 3 pt 4 pt 4 pt 4pt 4 pt 4pt 5pt 5 pt 5 pt 5 pt 5 pt

  2. Which countries have a market economy in the Western Hemisphere? (Please name at least four)

  3. What are U.S.A, Canada, Mexico, Chile, etc, etc, etc,

  4. Which country practices a command economy in the Western Hemisphere?

  5. What is Cuba.

  6. Which kind of government has two branches of government- Legislative and Judicial?

  7. What is Parliamentary.

  8. Which kind of government appoints its leader from the dominant political party within its legislative branch?

  9. What is the Parliamentary Government.

  10. Which are advantages of a command economy? Stability, and Equality OR Freedom, and Variety

  11. What is stability and equality.

  12. What is the goal of a TRADTIONAL economy?

  13. What is survival in a community and to make sure the community is taken care of.

  14. Which countries in the Western Hemisphere have a TRADITIONAL ECONOMY?

  15. What are none. No countries truly have a traditional economy anymore. There are small remote villages that practice it and the ancient cultures in the Western Hemisphere like the Maya.

  16. What are the advantages to using a TRADTIONAL economy?

  17. What are: everyone knows their job/role, no surprises

  18. What are disadvantages of a TRADTIONAL economy?

  19. What are: outdated technologies, slow to change, less freedom or choice

  20. There are four economic questions to answer when looking at an economic system: What should be produced? How will it be produced? How will it be distributed? Who will receive the benefits of production? What are the answers to these questions in a TRADTIONAL economy?

  21. What are traditions, customs, and however things have been done in the past is how all economic questions get answered in a TRADTIONAL Economy.

  22. They way Venezuela handles its oil…. COMMAND OR MARKET?

  23. What is COMMAND.

  24. Who’s goal is to produce effective products efficiently and make large profits… COMMAND OR MARKET?

  25. What is MARKET.

  26. Who’s major disadvantages are unequal distribution of wealth and the possibility of failures…COMMAND OR MARKET?

  27. What is MARKET.

  28. In a true example of this kind of economy, the government would stay completely out of the way of economic decisions… COMMAND OR MARKET?

  29. What is MARKET.

  30. There are four economic questions to answer when looking at an economic system: What should be produced? How will it be produced? How will it be distributed? Who will receive the benefits of production? Which economy can answer the first three questions with the answer: The government makes the decision… COMMAND OR MARKET?

  31. What is COMMAND.

  32. Name the THREE types of government used in the Western Hemisphere.

  33. What are Military Dictatorship, Presidential (Democracy), and Parliamentary

  34. Please list FOUR characteristics that make up a country

  35. What are citizens, government, borders, land, etc.

  36. What do the Presidential and Parliamentary system of government stand for?

  37. What are freedom, equality, justice, popular sovereignty, etc (our CORE DEOMICRATIC VALUES)

  38. What does a Military Dictatorship stand for?

  39. What are control and conformity (everyone thinks the same way).

  40. How do the Presidential system AND Parliamentary system elect their leaders?

  41. What are an election to elect the president in the PRESIDENTIAL government and a member of the dominant party of the legislative branch is appointed by the legislatures to be Prime Minister in PARLIAMENTARY government

  42. What government system is shown here? How do you know?

  43. What is a MILITARY DICTATORSHIP. I know this because it shows (sort of  ) Adolf Hitler who is one of the most famous dictators in history.

  44. What government system is this picture trying to show? How do you know?

  45. What is the PRESIDENTIAL SYSTEM. I know this because there are three branches (executive, legislative, judicial) all working together and communicating together.

  46. What are THREE differences between a PRESIDENTIAL government and a MILITARY DICTATORSHIP?

  47. What are: having one person or a small group leading your country versus having three branches (legislative, executive, judicial) working together, believing in control and conformity versus freedom, equality, CDVs, and opposing other lifestyles and different opinions versus one leader, communism, monarchs.

  48. Which system of government is this picture showing? Explain the election process.

  49. What is the PARLIAMENTARY system of government. The Prime Minister gets appointed by the legislature of the majority party. The citizens do NOT pick him/her

  50. Why would someone want to live in a market economy?

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