economies!
Presentation
•
Social Studies
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6th Grade
•
Practice Problem
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Medium
Summer Sanders
Used 38+ times
FREE Resource
5 Slides • 4 Questions
1
economies!
2
Market Economy
People have control
What to produce, how to produce, and for whom to produce is decided by Supply and Demand
What people want, factories will produce
Depending on how many people want something, the product can be expensive or cheap
3
Multiple Choice
How do market economies answer the three basic economic questions?
The government will decide
The past will guide producers
Supply and demand will guide producers and all decisions
Supply and demand will guide producers, but the government will intervene
4
Command Economy
The government controls everything
What to produce, how to produce, and for whom to produce is decided by the government
5
Multiple Choice
How do command economies answer the three basic economic questions?
The government will make all decisions.
The past will guide all decisions.
Supply and demand will guide all decisions.
The government will intervene to ensure fairness and productivity.
6
Mixed Economy
A mix of command and market
Somewhere in between command economy and market economy on the economic continuum
What to produce, how to produce, and for whom to produce are decided by Supply and Demand
7
Multiple Choice
How do mixed economies answer the three basic economic questions?
The government will make all decisions.
The past will guide all decisions.
Supply and demand will guide all decisions.
Supply and demand will guide producers, but the government will intervene to ensure fairness and productivity.
8
Market Economy
Workers have different incentives
Example: if they work hard and save money, they can own land, go on vacations, buy a house, etc.
9
Multiple Choice
What gives people an incentive to work and save in a market economy?
the desire for immediate satisfaction
the ability to own private property
the law of supply and demand
the government’s regulations
economies!
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