Social Studies

Social Studies By: Rabreekia,Karol, Rebekah, AND

Standard SS6G.B+C • Explain how most countries have a mixed economy based on a continuum pure market and pure command. Compare the basic economic systems found in the UK,, Germany and Russia.

???Essential Questions??? • 1) how do most countries strike a balance between having a pure market and a pure command economy? • 2) how are the economic systems of the UK,, Germany and Russia similar ?

What is pure market command?

• A market economy is economy based on the division of labor in which the prices of goods and services are determined in a free price system set by supply and demand

What is pure command economy? • An economy where supply and price are regulated by the government rather than market forces. Government planners decide which goods and services are produced and how they are distributed. The former Soviet Union was an example of a command economy. Also called a centrally planned economy.

What is the difference? • the difference is that command economy is when supplies etc. is regulated while market economy is based on division of labor.

How does Europe strike a balance? Europe strikes a balance because there is domestic violence going on and they are trying to get to a certain point for their economy

Summary!!!! • The reason why Europe is trying to get to a goal for market economy is because of all the market stocks and things that have been going on in Europe. They try to do as much as they can to work with the markets. They also try to work with command economy because

As Michael would say............... “We Are The WORLD!!”