End of Cycle Assessment Review

There is private ownership of businesses with the intent to make a profit.

Government intervenes in allocating goods, resources, and prices.

Government controls and distributes ownership of all business activity.

Production of goods and services is determined by a central government.

Use of the barter system

State control of major industries

Focus on subsistence agriculture

Reliance on hunting and gathering

Some industries are privately owned, while others are owned by the state.

Economic decisions are primarily determined by religious and cultural traditions.

Supply and demand and individual decision making control economic decisions.

Resources, the labor supply, and the means of production are all controlled by the state.

Nora buys a pair of handmade earrings while attending a local art fair.

Jeremiah purchases a pair of jeans from a retail chain store in the mall.

Tired of buying vegetables, Levi decides to plant a garden in his backyard.

While at the grocery store, Layla decides to buy organic milk.

Subsistence agriculture

Cottage industry

Commercial industry

Commercial agriculture

Benefits of Cottage Industries

Effects of Industrialization on Small Businesses

Assets of Commercial Industries

Effects of Government Regulations on the Marketplace

Free enterprise

Socialist

Communist

Traditional

Regulating supply

Regulating distribution

Regulating international trade

Regulating demand

Both IGOs and NGOs work to address national/domestic issues.

IGOs work to address environmental issues while NGOs advocate for political freedoms.

Both IGOs and NGOs aim to address global issues and promote positive change.

None of the Above

Heifer Project International

The World Health Organization

The North Atlantic Treaty Organization (NATO)

All of the above