Answering the 3 Economic Questions by pptfiles

VIEWS: 0 PAGES: 48

									Chapter 2
Answering 3 Economic Questions
Bell Ringer
Learning Objectives
What are the 3 Questions?
Economic Goals
Economic Goals Continued
                     Create a Venn Diagram comparing different systems
Types of Economies



                                            Traditional



                                               Mixed
                                   Command              Market
Traditional Economy
Market Economy
Command Economy
Mixed Economy
Free Market
Bell Ringer   January 12
Learning Objectives
Why do we need MARKETS?
Players in Free Market
Invisible Hand
Free Market Pros & Cons
Bell Ringer   January 13th
Bell Ringer   January 17th
Command Economy
Centrally Planned Economy (CPE)
Learning Objectives
CPE Structure
CPE Atmosphere
Socialism & Communism
CPE Problems
Mixed Economies
Why Mixed Economy?
Government’s Role
Circular Flow – Free Market
                          Review
Circular Flow - Mixed
           Which Economies Meet
           Which Economic Goals?
Economic         Market   Command   Mixed
Goal
Efficiency
Freedom
Security
Predictability
Equity
Innovation
Growth
Others

								
To top