Economic Systems Comparison Chart

Explain that there are 4 types of economic systems traditional command market and mixed and that while all societies face the same economic questions the way these questions are answered determines the.

Economic systems comparison chart. Start studying economic system comparison chart. Compare the government s role in market command and mixed economic systems. These areas tend to be rural second or third world and closely tied to the land usually through farming.

Was produced in the past the government decides what should be produced. Market command mixed production and distribution of goods and services who produces what who gets what how do they get it. Economic systems comparison chart.

Vast portions of the world still function under a traditional economic system. I can evaluate and critique how the 4 economic systems affect the world politically and economically. Traditional economy command economy free market economy mixed economy.

Describe the benefits and disadvantages of a mixed economic system. Economic systems comparison chart based on the information you gathered about economic systems this unit complete the chart by answering the questions about the different types of economic systems. Compare and contrast economic systems i can compare and contrast the 4 economic systems that exist in the world and distinguish how each economic system influences capital.

Learn vocabulary terms and more with flashcards games and other study tools. Feudal economic systems describes much of the world before 1800. Chad is an example of this definition characterized by low gdp high poverty little industrial employment and poor energy communication and transportation systems try this same exercise comparing the economic systems of nations large and small industrialized and developing well known and little known.

The primary source of economic activity is farming with any industrial production limited to cottage industry a feudal system is comprised of an elite class making up kings lords and knights ruling over a large peasant class who are responsible for farming. 3 students write the definition of economic system in the right hand portion of the box below the header on their notes sheet. Goods and services will be provided.

By custom whatever. Locate information about how each economic system answers the 3 basic economic questions. The traditional economic system is the most traditional and ancient types of economies in the world.

Based on the information you gathered about economic systems this unit complete the chart by answering the questions about the different types of economic systems.