1 / 4

Understanding Economic Systems: Allocation & Apportionment

Learn about economic systems & how they allocate resources and services. Compare traditional, market, command, & mixed systems. Discover the role of profit in a market economy. Explore answers to What, How, and For Whom to produce.

mikasi
Download Presentation

Understanding Economic Systems: Allocation & Apportionment

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. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. What to produce? How to produce it? And for whom to produce? Economic systems

  2. 1.4.1 Define economic system. (k) • An organized way in which a state or nation allocates its resources and apportions goods and services in the national community. • Can someone translate this?

  3. 1.4.4 Explain the function of profit in a market economy. (k) • Let’s jump a head just a little. • Have you heard about BlockBuster? • Why is this happening? • “Civilization and profit go hand in hand.” Calvin Coolidge. Do you agree?

  4. 1.4.2 Compare and contrast how the various economic systems (traditional, market, command, and mixed) answer the questions: What to produce? How to produce it? And for whom to produce? (a) • No sir. I won’t do it! • Enough of my babbling. Let’s get an expert to tell us.

More Related