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[DOC File]Basic Economic Systems-“Command vs
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The two major types of economic systems are command and market economies. Command Basic Questions Market A group of central planners base production on politically determined goals. The government owns all nonhuman resources. There is limited consideration of consumer preferences. They have relatively little influence over economic policy.
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[DOC File]Study Guide chapter 2
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economic system —a way of distributing goods and services to answer the WHAT, HOW, and FOR WHOM questions. Most societies in the world take part in one of three major economic systems—traditional, command, or market.
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[DOC File]Defining Economic Systems
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There are three types of economic systems that vary throughout the world. Capitalism is based on a free market economy that is driven by private ownership of property. Socialism is when the government controls key industries such as utilities, banking, and communications.
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[DOC File]Unit 2: Human (Cultural) Geography
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Political and economic systems are extremely important because they directly affect individuals. The three major economic systems are traditional, command and market economy. Topic/Take-Away: Peoples are increasingly interdependent in the world. Because natural resources are not evenly distributed, countries must trade.
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[DOCX File]Solano Community College
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Learning Objective 3.2: Describe each of the four different types of market structures in a private enterprise system and compare the three major types of economic systems. Concept Module: Macroeconomics: Issues for the Entire Economy
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[DOCX File]Home - Houston County School District
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economic systems in the world today are to some degree a mixture of all three systems. standards: 2.3 understand the different major economic systems. terms: mixed economy, continuum, transitional economy. objectives: students will see how the models of economic systems developed and how they actually work in the real world.
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[DOC File]Comparison of Economic Systems
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Comparison of Economic Systems. Define Economics: What are the three questions all economic systems answer? Word Bank: ... _____ have some of the characteristics of both command and market economic systems. Often the government owns major _____, but private _____ also exists. In mixed economies the government often heavily _____ its citizens in ...
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[DOC File]Comparative Systems Worksheet - LizardFoust
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Comparative Economic Systems . ... Chad's primarily agricultural economy will continue to be boosted by major foreign direct investment projects in the oil sector that began in 2000. Highly industrialized, free enterprise economy, second highest capita income in the world. 20% tax rate GDP Per Capita – What is the value of goods and services ...
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[DOC File]Chapter Fourteen: The Economy
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World Economic Systems. Capitalism has three essential features: (1) the private ownership of the means of production; (2) market competition; and (3) the pursuit of profit. Pure (laissez-faire) capitalism exists only when market forces are able to operate without interference from the government.
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[DOC File]Chapter One – People & Government
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2. The Role of Economic Systems. A. Governments around the world provide for many kinds of economic systems. B. All economic systems, however, must make three major economic decisions: 1) What and how much should be produced. 2) How goods and serves should be produced. 3) Who gets the goods and services that are produced. C.
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Three major economic systems in the world