Types of Economic Systems Explained

What is an Economy? ,[object Object]

Resources ,[object Object],[object Object],[object Object],[object Object],[object Object]

[object Object],[object Object],[object Object],[object Object]

Scarcity ,[object Object],[object Object]

Choices ,[object Object],[object Object],[object Object]

Basic Economic Choices: ,[object Object],[object Object],[object Object]

Four Types of Economic Systems: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Pure Market Economy ,[object Object],[object Object],[object Object],[object Object]

Problems ,[object Object],[object Object],[object Object],[object Object],[object Object]

Pure Command Economy ,[object Object],[object Object],[object Object],[object Object]

Problems ,[object Object],[object Object],[object Object]

Traditional Economy ,[object Object],[object Object],[object Object]

Mixed Economy ,[object Object],[object Object],[object Object]

Example of Economies… Pure Market Economy Pure Command Economy U.S. Mexico Sweden Russia Mainland China North Korea

Government Philosophies ,[object Object],[object Object],[object Object],[object Object],[object Object]

Capitalism ,[object Object],[object Object],[object Object]

Socialism ,[object Object],[object Object],[object Object]

Communism ,[object Object],[object Object],[object Object]

Economies in Transition ,[object Object],[object Object]

Do you think the oil industry is a monopoly?

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