Why are economic systems needed
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Global Economic Systems . GE.2.1. Describe the various economic systems such as a free market, a command economy, or a mixed economy. GE.2.2. Identify questions that must be answered by any economic system and how they are categorized by how they answer the basic economic questions. GE.2.3. Evaluate the strengths and weaknesses of various ...
[DOCX File]Mrs. Reif's History Classes
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Why do economic systems change over time? Until the modern age, people focused largely on land and agriculture. However, as nations began to trade and industrialize, new economic systems were needed to make sense of how they should make choices about how they use their limited resources to meet their wants and needs.
[DOC File]Middle Ages - Discussion Questions
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During the Middle Ages, daily life greatly differed for the nobles and peasants/serfs. Why do you think the political (feudalism) and economic systems (manorial system) that were created stayed in place for such a long period of time? Explain. Who or what was the greatest accomplishment of the Middle Ages? Or were there not any? Explain.
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an economic system. The second main difference between socialism and communism is that within communism the distribution of goods and services takes place according to the individuals needs, while in a socialist system, goods and services are distributed based on individual efforts (e.g. paying taxes).
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Why do economic systems change over time? Until the modern age, people focused largely on land and agriculture. However, as nations began to trade and industrialize, new economic systems were needed to make sense of how they should make choices about how they use their limited resources to meet their wants and needs.
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