4.20-discover-economic-systems (2).pptx - Discovering...

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Discovering Economic Systems Discovering Economic Systems Copyright © 2011 Texas Education Agency. All rights reserved.
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Copyright © 2011 Texas Education Agency. All rights reserved. 2 “No economy ever stands still.” Sir Roy Harrod, The British Economy “No economy ever stands still.” Sir Roy Harrod, The British Economy
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3 Student Expectation Compare and contrast the types of economic systems: Traditional economy Centrally-planned economy Market economy Mixed economy Copyright © 2011 Texas Education Agency. All rights reserved. 3
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4 Traditional Economy An economic system in which people do things the way they have always done them. A traditional economy is influenced by: Habits Customs Religious beliefs Copyright © 2011 Texas Education Agency. All rights reserved. 4
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5 Traditional Economy Characteristics An economic system heavily influenced by habits, customs, and religious beliefs. Children generally “inherit” the occupations of their parents. Difficult to introduce new ideas. Copyright © 2011 Texas Education Agency. All rights reserved. 5
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6 Planned Economy An economic system in which the government controls and regulates production, distribution, prices, etc. Copyright © 2011 Texas Education Agency. All rights reserved. 6
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7 Planned Economy Characteristics Not affected by financial downturns and inflation.
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  • Fall '18
  • carol currie
  • Economic system, Planned economy, Texas Education Agency

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