Economies of Europe
Presentation
•
Geography
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6th Grade
•
Practice Problem
•
Medium
Rob Gourlay
Used 44+ times
FREE Resource
13 Slides • 7 Questions
1
Multiple Choice
What is the definition of Scarcity?
The limited supply of something.
The unlimited supply of something.
There is enough for everyone to have have everything.
The source of the power of the government.
2
Multiple Choice
Which of the following is Not one of the Three Economic Questions?
What to produce?
How to produce?
For whom to produce it for?
What to produce it with?
3
4
5
Multiple Choice
In this type of economy, the customs and traditions of the past are used to answer the Three Economic Questions.
Traditional Economy
Command Economy
Market Economy
Mixed Economy
6
Multiple Choice
In this type of economy, the government answers all three of the economic questions.
Traditional Economy
Command Economy
Market Economy
Mixed Economy
7
Multiple Choice
In this type of economy, the buyers and sellers answer the three economic questions.
Traditional Economy
Command Economy
Market Economy
Mixed Economy
8
Multiple Choice
In this type of economy, the economy combines parts of Command and Market Economies.
Traditional Economy
Command Economy
Market Economy
Mixed Economy
9
Multiple Choice
This tool is used to determine how much government involvement there is in the economy. It can be represented as a number line with 0 representing Pure Command and 100 representing Pure Market.
Economic Continuum
Economic Numberline
Economic Freedom Score
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12
Germany has an Economic Freedom Score of 72.1 making it a mostly free economy.
Gross Domestic Product (GDP): $5.4 Trillion
Germany's Economy
13
Health Care
Education
Insurance
Banks
Telecommunications
Germany's Government Owns:
All other industries
Privately Owned
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15
Russia's Government still owns important industries and heavily regulates other industries. This is the reason the they have an Economic Freedom Score of 52.
Russia's GDP is $4.8 Trillion.
Russia's Economy
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Education
Health Care
Energy Sectors
Regulates Oil and Natural Gas Companies
Banks
Television/Media Outlets
Russia's Government Owns:
Oil and Natural Gas
All other Industries
Privately Owned:
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The UK's Economy has seen more government involvement in recent years. Their Economic Freedom Score has gone from a 78.4 to 68.6.
This is part due to the government having to regulate industries that were previously regulated by the EU.
GDP: $3.7 Trillion
The UK's Economy
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Education
Some Banks
Owned by the UK
All other industries
Some industries are heavily regulated by the government.
Privately Owned
20
Country | Economic Freedom Score | World Ranking | GDP | GDP per Capita |
|---|---|---|---|---|
Germany | 72.1 | 18 | $5.1 Trillion | $64,086 |
Russia | 52 | 131 | $4.8 Trillion | $33,253 |
The UK | 68.6 | 30 | $3.7 Trillion | $54,824 |
USA | 70 | 25 | $25.5 Trillion | $76,343 |
What is the definition of Scarcity?
The limited supply of something.
The unlimited supply of something.
There is enough for everyone to have have everything.
The source of the power of the government.
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