ECONOMIC SYSTEMS

Report
 On
your desk:
 Current Event Homework (cause  effect
activity), immigrant interview, pen/cil
 Warm-up:
Current Events with Carl– EESP
Would
you have enrolled in
AP Human Geography if given
the opportunity as a
freshman?
TEXT to: 22333
YES= 123328
NO= 123369
 1.
current events
 2. immigration essay- (test grade)
 3. economic systems notes
 NEXT
Major TEST is Friday Oct 31.
 1.
Interview and essay: TEST GRADE
 2. current event homework (causeeffect
from page R9 in text)
 3. Ch 4 Vocabulary
If you have completed all of these, you have
NO HOMEWORK!!!! 
 1.
How does geography influence how
people make a living?
 2. What are the 4 types of economic
activities?
 3. Mining, logging, fishing and farming
are examples of what level of
economic activity?
 4. What is one argument in support of
free trade?
 5. What is one argument against free
trade?
 Economic
Activities: What people “do” for a
living.
 4 Categories..
 Primary
 Secondary
 Tertiary
 Quaternary
 Shout
out the level for the following
pictures..
 Making
new items from Raw Materials
Who makes the decisions within each
economic system?
 On
your notes page, list 2 things you already
know or want to know about the four
economic systems.
 Traditional
 Free Enterprise
 Communism
 Socialism
 Every
society has limited resources.
 This means no society has enough goods and
services to meet the needs of everyone.
 Because of this, each society must answer
three economic questions.
 What
should be produced?
 How
should it be produced?
 Who
should get it?
 The
way in which society answers the
economic questions is known as its
“economic system.”
 Traditional
 Free
Enterprise
 Communist
 Socialist
 Economic
Decisions – custom and tradition
determine what should be produced, how it
should be produced and for whom.
 Production – based on custom and timehonored methods. New ideas are discouraged.
Very little change or growth.
 Private Property – no private property. Things
are owned by the family or village.
 Trade – goods and services are produced to
meet the needs of the members of the family
or tribe only. Very little trade with outsiders.
 Mostly
found in rural, isolated areas
 Bushmen of the Kalahari Desert of South
Africa
 Berber tribesmen of Algeria
 Villages in South Asia
Private Property – people have a right to own
private property and use this property as they
see fit with limited interference from the
government.
 Free Enterprise – people are free to take part in
any business, buy any product or sell any legal
product. Businesses can lower prices, provide
better quality, advertise, etc. to attract
customers.
 Profit Motive – the ability to make profits is what
drives people to risk their money to start a new
business.
 Supply & Demand – determines prices. When
demand is high, the price goes up. If the supply
is high but demand is low, the price goes down.

 Mostly
found in countries with commercial
agriculture and commercial industries.
 United States
 United Kingdom
 Canada
 Japan
 Singapore
 Chile
 France
 Germany
 (MDC’s)
 Role
of Government – all major decisions on
production, distribution and use of resources
are made by the government.
 Private Property – no private ownership. The
nation or government owns all land,
factories, farms and major resources.
 Cooperation – all workers labor together and
share equally.
 Major Goal – to achieve a “classless” society
– equality among all workers.
 At
one time there were MANY communist
countries, but they were unable to keep up
with the goods created by free enterprise
systems.
 China – taking steps toward free enterprise.
 North Korea
 Vietnam
 Cuba
Role of Government – government uses its power
to bring an end to poverty by taking control of
the major resources of the nation and providing
public services.
 Economic Decisions – many decisions about
production, distribution and the use of resources
are made by the government. Other decisions
are made privately.
 Private Property – major industries are owned by
the government. Other property is owned
privately.
 Major Goal – seeks a fairer distribution of income
among society. People’s basic needs are met for
free or at a very low cost. (healthcare,
transportation, housing, education)

 After
World War II, most countries in Western
Europe became Socialist, but many moved
toward privatization in the 1980’s and
1990’s.
 Today:
 Sweden
 Venezuela
 Israel
 In
the real world, no economy TOTALLY
follows one economic system.
 Most countries have economies that blend
features of each.
 Countries can be classified on a spectrum
ranging from free enterprise to communist
based on how much control the government
has.
Socialism
Communism
Free Enterprise
 On
your notes page, use what you’ve learned
to fill in the “who makes the decisions”
chart.
 You may work with a partner.
 Then draw a picture representation of each
type of economic system.
 Next class period we will look at specific
countries and place them on a economic
systems spectrum.
 You
will be placed in groups of 4.
 Assign the following duties:





Time Keeper – keeps time and keeps group on
task
Librarian – reads information
Secretary – gather materials and keeps notes
Illustrator – draws spectrum and records
countries
ALL GROUP MEMBERS – PARTICIPATE IN
DISCUSSION
 Materials:





Country packet
1 sheet of notebook paper
Pen/pencil
Butcher/construction paper
1 or 2 markers
 Instructions:





Read each country’s economic information
Determine what type of economic system each
country has and take notes over characteristics
of each country
Draw an “Economic System Spectrum” on
butcher/construction paper. (see example)
Review notes from each country and decide
where each country should be placed on the
spectrum
Be ready to support your group’s decisions

similar documents