What you needMarketing

Essentials textbook

Markers or colored pencils

Blank sheets of computer paper

CREATIVITY!!!!!

Make Your Chart!

Student Name

Command EconomyOn your chart in one open box,

draw at least 2 pictures of the most annoying things your parents tell you to do

Label it Command Economy◦Examples: Make your bed, clean

your room, dust the living room, study, be home by 10, etc.

Command EconomyImagine a world (economy)

where the GOVERNMENT tells you what to about EVERYTHING.

They make all decisions: where you live, what your job is, how many children you can have, what your country can and cannot produce, etc!

Who has a Command Economy?Write these examples down on your

chart:

◦Cuba◦North Korea◦Former Soviet Union

Define “Command Economy”

And write it on your chart

Cooking Supper

DustingCommandEconomy

“Economy based on TOTAL Governmental Control…All products, prices, sizes, colors – decided by government.”

CubaN. KoreaFmr. Svt. Union

TraditionalEconomy

I’ll show you

how to cook.

“ The ways to produce products are passed won from one generation to the next.”

Market Economy“People, rather than the government own resources and run business.”

NO Government Interference

…..CAPITALISM…..

MIXEDECONOMY

“A mixture of a market economy that included some aspects of command and traditional economies.”

Government regulates for safety, pollution, utility rates. USA

What about Traditional Economy?Choose another box on your

chart, define “Traditional Economy,” and illustrate !

Don’t forget “Market Economy”Add this to one of the open boxes

on the chart

Don’t forget the definition

Add a couple of illustrations!

Where do we fit?If you had to pick which economy we

MOST represent, what would you say?

Hopefully you said MARKET! Think about it..◦ Traditional? Nope! We sure do love our

technology.◦ Command? Nope! If I wanted to be an auto

mechanic or nurse, I could be! If I wanted to sell corn on the side of the road, I could!

◦ Market? Produces and consumers have a say… that would resemble us… but why aren’t we a complete market economy?? That darn government! It does have some say:

speed limits, the fact that you HAVE to go to school, laws against crimes, etc.

So… what else?

On your sheet of paper, draw arrows pointing from all 3 squares of your chart to the last open box

Title it Mixed Economy

Mixed

Economy

Mixed EconomyOne could say that a Mixed Economy

represents the other 3 (mostly market and command)

It allows citizens the freedom they deserve while making sure we live in a FAIR society.

Does our economic system have aspects of: Traditional? Sure, we have traditions!

Who watches fireworks on the 4th of July? Market? Absolutely, we produce goods

we want & we can buy what we want! Command? Definitely, our government

steps in when needed!