Comparing Economic Systems - Mesa Public Schools

[Pages:1]Building Key Concepts

2C Transparency

Answers

1. a market economy, because individuals answer the key economic questions

2. a centrally planned economy, because the government answers the key economic questions

Comparing Economic Systems

Each economic system represents a different set of responses to the three key economic questions. A society's economic system reflects the importance the society places on various economic goals.

Economic System

Traditional economy Market economy Centrally planned economy Mixed economy

Who Answers the Three Key Economic Questions Custom Individuals Central government

Individuals, but with some government involvement

1. Which economy do you think is most responsive to consumers? 2. Which economy do you think most restricts economic freedom?

? Prentice-Hall, Inc.

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