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Mixed Economy

Mixed Economy. Essential Question. What types of economies exist in SWA today? Why do most countries have a mixed economy?. What Do You Like on a Sundae?. You and your partner discuss it. What toppings do you like on an ice cream sundae? Plain Vanilla?

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Mixed Economy

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  1. Mixed Economy

  2. Essential Question • What types of economies exist in SWA today? • Why do most countries have a mixed economy?

  3. What Do You Like on a Sundae? • You and your partner discuss it. • What toppings do you like on an ice cream sundae? • Plain Vanilla? • Or absolutely everything (and I mean everything)?

  4. What Do You Like on a Sundae? • Chances are, you were somewhere between plain and everything. • When discussing economies, most countries are somewhere in between too. • When a country is not completely a command economy and not completely a market economy, but somewhere in between, it is called a Mixed Economy.

  5. Mixed Economy – “In Between”

  6. Ms. Ward’s Easy Economics • All you have to do to know what type of economic system a country has is to ask yourself who is answering the economic questions. • What are the economic questions? • Each question will have the same general answer. Let me explain.

  7. “Pure” Command Economies • The government controls all aspects of economy. DRAWBACKS • If government controlled everything in the economy, then having a diversity of products would be very difficult. • With no private businesses, there would be no competition, and products would never improve and prices would be at the mercy of the government. • The government could make the economy exploit the poor and benefit the rich.

  8. “Pure” Market Economies • If you make it and I want it….name the price!!!!! We’re in business!!! DRAWBACKS • If an economy was pure market, people could sell anything, even things that could hurt others. • Businesses could make things cost as much as they wanted. • In order to make products cheaper, they could skimp on safety and benefits for workers. • The government also creates business contracts for things such as military weaponry.

  9. Most Countries Lie Somewhere in Between -However, they may be closer to one side than the other.

  10. Economic Continuum • What is a mixed economy? • What are the elements of a more command economy? • What are the elements of a more market economy? • What types of governments would be associated with command? • What types of governments would be associated with market?

  11. Writing Prompt • With your partner, answer the following questions: • What bad things could happen if an economy was pure market? (Be specific, at least 3 sentences) • What bad things could happen if an economy was pure command? (Be specific, at least 3 sentences).

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