Intro To Types Of Economies
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INTRO TO TYPES OF ECONOMIES ECONOMICS MR. SCHEEL Read p.23-28; Use the diagram on p. 26 to help differentiate each type of economy. 1.
List the types of economies
2.
Define traditional economy
3.
What role do children play in traditional economies?
4.
Explain the benefits from belonging to a traditional economy.
5.
Name three actual examples of Traditional Economics.
6.
Define command economy.
7.
Describe the “central planners”.
8.
Describe how a command economy function through one of the examples given.
9.
Define market economy.
10. How does the market hold as its own control over the economy?
11. How does self interest become the primary motivator in a market economy?
12. Explain how incentives respond to self interests both positively and negatively.
13. What is authoritarian socialism more commonly known as?
14. Explain how communism functions.
15. Explain why capitalism is perhaps the most popular and successful form of economy today.
16. What roles does the government play in a capitalist economy?
17. Give a detailed description of Democratic socialism.
18. Give an example of a democratic socialist nation, a capitalist nation and a communist nation.
List the types of economies
2.
Define traditional economy
3.
What role do children play in traditional economies?
4.
Explain the benefits from belonging to a traditional economy.
5.
Name three actual examples of Traditional Economics.
6.
Define command economy.
7.
Describe the “central planners”.
8.
Describe how a command economy function through one of the examples given.
9.
Define market economy.
10. How does the market hold as its own control over the economy?
11. How does self interest become the primary motivator in a market economy?
12. Explain how incentives respond to self interests both positively and negatively.
13. What is authoritarian socialism more commonly known as?
14. Explain how communism functions.
15. Explain why capitalism is perhaps the most popular and successful form of economy today.
16. What roles does the government play in a capitalist economy?
17. Give a detailed description of Democratic socialism.
18. Give an example of a democratic socialist nation, a capitalist nation and a communist nation.
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