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FOUR types of Economic Systems
1. TRADITIONAL ECONOMY
Cottage Industries
Subsistence Agriculture
What are the main features of a Traditional Economy?
Does the US have this type of Economy?
What is ECONOMICS?
2. Which heading best completes the partial outline?
I. _______________________________
A. Interaction of Supply and DemandB. Profit Incentive
C. Entrepreneurs
U
S
A
G o v
e r
n m e
n t
3. Communism
National Plan
4. Socialism
Market Reforms and Class Struggle
Most countries have Mixed Economic Systems
Which country would be the most developed?
Why?
What type of Agriculture?
What factors determine how developed a country is?
What are the Economic Indicators?
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