CRCT vocab 2 government and economics
1. Write 3 things that you know about the word “Economy” 2. Write 2 things that you know about the word “System” 3. Write 1 thing that you know about.
Economic Systems
Economic Systems. Countries must decide how to distribute its resources to meet the needs of its people. Countries do this through an economic system.
Economics CHAPTER 2 Section 1 economic systems and decision making Name that System!
An economic system describes how a country’s economy is organized Because of the problem of scarcity, every country needs a system to determine how to.
Economic Systems. The purpose of economics The purpose of economics Economics seeks to answer the basic question of how to deal with SCARCITY.
Economic Systems UNIT TEN NOTES. Economic Systems An economic system describes how a country’s economy is organized Because of the problem of scarcity,
Economic Systems ► Economists have identified 3 basic kinds of economic systems. ► 1. Traditional Economy ► 2. Command Economy ► 3. Market Economy.
ECONOMICS REVIEW Test is Tomorrow!!!. Items that are produced and sold in markets are called what?
