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Modern economies mixed economies - PowerPoint PPT Presentation

Chapter 2

Chapter 2. Different Types of Economies. What is an economic system?. Economic system. The method by used by a society to produce and distribute goods and services. Great. But how? Every economic system must answer specific questions about production. The Three Economic Questions.

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692 views • 42 slides

SWBAT

SWBAT. Define Economics Identify the key economic questions that every society must answer Explain the basic economic goals that societies have Describe the different types of economic systems that exist today. Definition.

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Answering the Three Economic Questions

Answering the Three Economic Questions. What key economic questions must every society answer? What basic economic goals do societies have? What types of economic systems exist today?. The Three Economic Questions. Every society must answer three questions:

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The Free Market

The Free Market. What key economic questions must every society answer? Why markets exist? Analyze a circular flow model of a free market economy? Understand the self-regulating nature of the marketplace Identify the advantages of a free market economy.

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173 views • 16 slides

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Modern economies mixed economies - PowerPoint PPT Presentation

Chapter 2

SWBAT

Answering the Three Economic Questions

The Free Market