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Economic and Political Systems

Economic and Political Systems. Muhammed Yunnus Professor of economics Met Sufiya Khatun Made stools Started Bank loan small amounts to poor Join group of 5 others who lend Grameen Bank- “Village Bank” 1,000 offices Now it’s owned by those who borrow. Economic Systems. Economy

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Economic and Political Systems

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  1. Economic and Political Systems • Muhammed Yunnus • Professor of economics • Met Sufiya Khatun • Made stools • Started Bank loan small amounts to poor • Join group of 5 others who lend • Grameen Bank- “Village Bank” • 1,000 offices • Now it’s owned by those who borrow

  2. Economic Systems • Economy • System for producing , distributing and consuming goods and services. • Owners and workers are producers • Product made is called goods or services performed for others • Consumers buy and use the goods and services

  3. Economic Systems • Types of Business • Basic Business • Essential for a nation to function • Transportation, communication and electricity • Non-Basic Business • “Nice” but not necessary • DVD, sports equipment, • Services can be both • Hospitals are basic, nails are non-basic

  4. Different Economic Systems • Vary based on Cultures • Capitalism, Socialism, and Communism • Capitalism • Most basic and non-basic businesses privately owned • US, South Africa and Japan

  5. Economic Systems • Socialism • Government owns most basic industries • Runs them for the good of society…no profit • Government dictates workers pay and how much to charge • Uses profits to pay for health care and education • Non-basic follow same model • Privately owned • Spain, Portugal, and Italy

  6. Economic Systems • Communism • Central government owns all property • All farms, factories • Controls all aspect of citizens life • Prices of goods/services, how much product made, and workers pay • Cuba, China, and North Korea

  7. Political Systems • Government- system that sets up and enforces a society’s laws and institution. • Some controlled by few/ some by many

  8. Direct Democracy • Early government = simple • Direct Democracy is where everyone participates in running the day-to-day affairs • Chiefs/elders • Based on the culture’s customs and beliefs

  9. Monarchy • Most common form of government until 100 years ago • Monarchy- king or queen rules the government • Ruler inherits throne by birth • Monarchies exist today • Sweden, Denmark, UK, Spain, Swaziland • Not the same power as their ancestors • They are constitutional monarchs • Constitutions • Sets of laws that define and limit the government’s power • King or queen is really just a symbol

  10. Representative Democracy • Citizen’s elect representatives to run country’s affairs • Constitutional monarchy follow this • Democracy (greek)= demos- common people • The common people hold power to govern and rule • Elect reps who create laws • Not re-elect if don’t like • Power is shared • USA, Canada, and Israel

  11. Dictatorship • Government leader has total control • Dictator decides what happens • Make laws • Decide if their will be elections • Usually sound good at the start • More often they end up harsh

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