PPT-Government & Economic Systems

Important terms Sovereignty is the idea that a territory or region has supreme authority over itself Autonomy is the idea that a person state territory etc can make decisions for itself without outside interference. How the Government influences how I make money.. Take out a sheet of paper and answer the following questions:. What are Goods?. What are Services?. What are Resources?. What is Scarcity?. All Economic Systems Must Consider the Following Questions:. Chapter 2. Economic Systems. In this lesson, students will examine the four economic systems.. Students will be able to define the following terms:. An Economic System. Traditional Economy. Free Market Economy. What . do you know about economic systems?. THINK – PAIR – SHARE . Grab a piece of paper and ask yourself:. What do I know about economic systems?. What examples can I think of?. Share your ideas with a friend. What do you know about economic systems?. THINK – PAIR – SHARE . Grab a piece of paper and ask yourself:. What do I know about economic systems?. What examples can I think of?. Share your ideas with a friend. Understanding Economic Systems. Adapted from a presentation created by Mr. Blair. What standard of living do you hope to attain in life? How do you plan to accomplish this goal?. Warm Up Question #1. AS Economics. Aim. Understand economic objectives and economic systems.. Objectives. Define different agents’ objectives in an economy.. Describe how these objective are competing.. Analyse different types of economic systems.. Understanding Economic Systems. Adapted from a presentation created by Mr. Blair. What standard of living do you hope to attain in life? How do you plan to accomplish this goal?. Warm Up Question #1. Southwest Asia’s. ECONOMIC. SYSTEMS. STANDARDS:. 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. . 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. . How do I differentiate between the different types of economies?. What is the most effective economy system? Explain.. Essential Question. THOUGHT QUESTION:. ARE THERE STRENGTHS AND WEAKNESSES IN EACH ECONOMIC SYSTEM?. Rixie. Always remember…. Economics is the study of choices related to resources, production, and consumption. 4 Types of Economic Systems. Command. Market. Traditional. Closed. #1 Command Economies. © 2015 McGraw-Hill Education.. . CHAPTER 1. The Dynamics of Business and Economics. CHAPTER 2. Business Ethics and Social Responsibility. CHAPTER. 2 . APPENDIX . The Legal and Regulatory Environment. Theme 2. Economics. Economics: the study of how people . choose. to use resources.. It is the study of choices. .. What are your resources? . Economics is not a science.. It is a set of theories, but none, has scientific validity.. Disclaimer. : The views expressed are those of the presenters and do not necessarily reflect those of the Federal Reserve Bank of Dallas or the Federal Reserve System.. TEKS. Economics. The student understands the concepts of scarcity and...