2.

1 Economic Systems

Tradi&onal Economies

 Advantages: Li6le thought about the big three

ques&ons. Everyone knows their role.
Disadvantages: Few new ideas and li6le
change.
We do things the way that weve
always been doing!!!

Market
Economies
Market
Economies

Market Economies

Mixed Economies

Characteris&cs: Many, if not most, economies today are

mixed. There are few pure tradi&onal, command, or market
economies. Govt. involvement can range from providing
basic public goods to making most economic decisions.

Examples: U.S., Great Britain, France, Sweden, Hong Kong,
Iceland


Advantages: provides assistance for some people who
might otherwise be leN out.

Disadvantages: cost for providing benets/services means
higher costs for ci&zens overall.

1. In groups, you will have 30 minutes to write and

rehearse a short skit illustra;ng the 4 types of
economic systems.
2. You may use the internet, notes or your textbook
to research
3. Every member of your group must have a role.
4. Grading will be determined on how well you
portray your economies, WITHOUT actually
saying what it is.