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Warm-Up Topic N: How would life be different if money did not exist? Write the topic and the answer (top of the pag

46. Warm-Up Topic N: How would life be different if money did not exist? Write the topic and the answer (top of the page)! ----------------------------------------------------------------------------------------------------------. =. MARKET

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Warm-Up Topic N: How would life be different if money did not exist? Write the topic and the answer (top of the pag

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  1. 46 Warm-Up Topic N: How would life be different if money did not exist? Write the topic and the answer (top of the page)! ----------------------------------------------------------------------------------------------------------

  2. = • MARKET • business owners compete & take care of themselves • not much government interference • also called “free enterprise system” • USA has this • TRADITIONAL • trade or barter • most primitive—1st type of economy • undeveloped countries may use this • COMMAND • government makes business decisions • usually found in countries with tyrannies for governments • communism & socialism are forms • China has this

  3. = • MARKET • business owners compete & take care of themselves • not much government interference • also called “free enterprise system” • USA has this • TRADITIONAL • trade or barter • most primitive—1st type of economy • undeveloped countries may use this • COMMAND • government makes business decisions • usually found in countries with tyrannies for governments • communism & socialism are forms • China has this

  4. = • MARKET • business owners compete & take care of themselves • not much government interference • also called “free enterprise system” • USA has this • TRADITIONAL • trade or barter • most primitive—1st type of economy • undeveloped countries may use this • COMMAND • government makes business decisions • usually found in countries with tyrannies for governments • communism & socialism are forms • China has this

  5. = • MARKET • business owners compete & take care of themselves • not much government interference • also called “free enterprise system” • USA has this • TRADITIONAL • trade or barter • most primitive—1st type of economy • undeveloped countries may use this • COMMAND • government makes business decisions • usually found in countries with tyrannies for governments • communism & socialism are forms • China has this

  6. 46 “I need” vs. “I want.” Write down five things that you need and five things that you want. ---------------------------------------------------------------------------------------------------------- Need: something basic that you must have to survive (examples: food, water, shelter) Want: the way that you communicate a need (example: you need shelter, but you want a mansion)

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