Types of economic systems
Download
1 / 14

Types of Economic Systems - PowerPoint PPT Presentation


  • 104 Views
  • Uploaded on

Types of Economic Systems. Entities. Government Questions: 1. How much should the economy produce? It depends on the resources it has available The resources are land, labor, capital and entrepreneurial spirit

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about ' Types of Economic Systems' - cameron-richard


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript


Government questions 1
Government Questions: 1

  • How much should the economy produce?

    • It depends on the resources it has available

    • The resources are land, labor, capital and entrepreneurial spirit

    • Production possibility curves – using resources efficiently and understanding the trade-off between producing item 1 versus item 2


What should be produced
What should be produced?

The Theory of Comparative Advantage

A society should produce goods and services that compliment its competitive edge.


Us farmland
US Farmland

  • On the arable land, which is only 11% of Japan's total land area, the population density is among the highest in the world.

  • 145,833 sq mi in Japan – 15,000 square miles of farmable land

  • 9,600,000 square acres

    • Census of Agriculture• Contact NASS Customer Service, 1-800-727-9540.


How are the goods and services production
How are the goods and services production

  • By the most efficient companies.

  • Sometimes by the government.


Who receives the output income distribution by quintile
Who receives the output?Income Distribution by Quintile





Types of economies
Types of Economies

  • Command

    • governments determines prices and quantities produced

  • Capitalistic

    • free market interaction between buyers and sells determines prices and quantities produced

  • Mixed

    • a mix where in some markets the government is a buyer, regulator, or producer.

  • Even with a free market capitalist system there are times when the system does not operate in a manner that best suits the overall population. These occurrences are known as free market breakdowns. Some of these free market breakdowns are on the “Free Market Breakdown” page on the website.


How can the type of economic system be determined
How can the type of economic system be determined?

Government percent of overall spending

  • http://anepigone.blogspot.com/2008/03/government-spending-as-percentage-of.html

  • http://www.usgovernmentspending.com

  • http://www.heritage.org/index/Ranking.aspx



ad