Comparative Systems Worksheet



Comparative Economic Systems

What would life be like in the North Korean economy?

How would things be different in the economy of Chad?

Why is Liechtenstein so wealthy?

In this lesson, you will have the opportunity to compare these three economies to the U.S. economy, and you’ll practice using some tools that can help you to study any economy in the world.

1. Complete the data worksheet by using the CIA World Factbook at

• If you copy and paste answers – format text appropriately to ensure readability on final copy

• (suggested 8 pt. Arial font)

2. Answer the seven reflection questions after gathering the data.

3. Complete the assignment online and post to your weebly website

Data Worksheet

| |United States |North Korea |Chad |Liechtenstein |

| |[pic] |[pic] |[pic] |[pic] |

|Geography | | | | |

|Natural Resources – How many and |coal, copper, lead, |Coal, lead, tungsten, zinc, |Petroleum, uranium, natron, |Hydroelectric potential, |

|what types of natural resources |molybdenum, phosphates, |graphite, magnesite, iron, |kaolin, fish, gold, |arable land |

|are available? |uranium, bauxite, gold, iron,|ore, copper, gold, pyrites, |limestone, sand and gravel, | |

| |mercury, nickel, potash, |salt, fluorspar, hydropower |salt | |

| |silver, tungsten, zinc, | | | |

| |petroleum, natural gas, | | | |

| |timber | | | |

| |note: the US has the world's | | | |

| |largest coal reserves with | | | |

| |491 billion short tons | | | |

| |accounting for 27% of the | | | |

| |world's total | | | |

|Land Use – What percentage of the|arable land: 18.01% |Arableland: 19.08% |Arable land: 3.82% |Arable land: 21.88% |

|land is arable (capable of being |permanent crops: 0.21% |Permanent crops: 1.7% |Permanent crops: 0.02% |Permanent crops: 0% |

|farmed)? |other: 81.78% (2005) |Other: 79.22% (2011) |Other: 96.16% (2011) |Other: 78.12% (2011) |

|People | | | | |

|Life Expectancy at Birth – How |total population: 78.11 years|Total: 69.51 years |Total: 49.07 years |Total: 81.59 years |

|long are children born today |country comparison to the |Country comparison to the |Country comparison to the |Country comparison to the |

|expected to live? |world: 49 |world: 155 |world: 223 |world: 12 |

| |male: 75.65 years |Male: 65.65 years |Male: 47.95 years |Male: 79.45 years |

| |female: 80.69 years (2009 |Female: 73.55 years |Female: 50.22 years |Female: 84.29 years |

| |est.) |(2013 est.) |(2013 est.) |(2013 est.) |

|Total Fertility Rate – How many |2.05 children born/woman |1.99 children born/woman |4.8 children born/woman (2013|1.69 children born/woman |

|children does each woman have, on|(2009 est.) |(2013 est.) |est.) |(2013 est.) |

|average? |country comparison to the |Country comparison to the |Country comparison to the |Country comparison to the |

| |world: 126 |world: 131 |world: 24 |world: 171 |

|Literacy Rate – What % of people |definition: age 15 and over |Definition: age 15 and over |Definition: Age 15 and over |Definition: age 10 and over |

|over the age of 15 can read and |can read and write |can read and write |can read and write |can read and write |

|write? |total population: 99% |Total population: 100% |Total population: 35.4% |Total population 100% |

| |male: 99% |Male: 100% |Male: 45.6% |Male: 100% |

| |female: 99% (2003 est.) |Female: 100% |Female: 25.4% (2011 est.) |Female: 100% |

| | |(2008 est.) | | |

|Government | | | | |

|Government Type –How are leaders |Constitution-based federal |Dictatorship |Republic; president elected |Hereditary constitutional |

|elected? |republic; strong democratic | |by popular vote for five-year|monarchy |

| |tradition | |term | |

|Government Spending as Percent of|GDP (PPP): $14.26 trillion |GDP (PPP): $40 billion (2011 |GDP (PPP): $21 billion (2011 |GDP (PPP): $3.2 billion |

|GDP (Budget Expenditures Divided |(2009 est.) |est.) |est.) |(2009) |

|by GDP). Find in Economy section |Budget: revenues: $1.914 |Budget revenues: $3.2 billion|Budget revenues: $2.748 |Budget revenues: $1.29 |

| |trillion |Expenditures: $3.3 billion |billion |billion |

| |expenditures: $3.615 trillion|(2007 est.) |Expenditures: $2.979 billion |Expenditures: $1.372 billion |

| |(2009 est.) | |(2012 est.) |(2011 est.) |

| | | | | |

| |$3.615 trillion / $14.26 | | | |

| |trillion = .25 (25%) | | | |

|Military Spending as a Percentage|4.06% of GDP (2005 est.) |N/A |N/A |N/A |

|of GDP. Find in Military section |country comparison to the | | | |

| |world: 28 | | | |

|Economy | | | | |

|Economy Overview – What are the |Long-term problems include |One of the world’s most |Economic conditions have been|Liechtenstein has developed |

|most serious economic problems |inadequate investment in |centrally directed and least |positive in recent years, |into a prosperous, highly |

|facing each of these four |economic infrastructure, |open economies. Industrial |because of high international|industrialized, free |

|nations? Summarize from Economic |rapidly rising medical and |capital stock is nearly |prices for oil and a strong |enterprise economy with a |

|Overview |pension costs of an aging |beyond repair as a result of |local harvest. Chad’s economy|vital financial service |

| |population, sizable trade and|years of underinvestment, |has long been handicapped by |sector and likely the second |

| |budget deficits, and |shortages of spare parts, and|its landlocked position, high|highest per capita income in |

| |stagnation of family income |poor maintenance. |energy costs, and a history |the world. |

| |in the lower economic groups.| |of instability. | |

|GDP Per Capita – What is the |$46,400 (2009 est.) |$28 billion (2009 est.) |$2,000 (2012 est.) |$89,400 (2009 est.) |

|value of goods and services |country comparison to the |Country comparison to the |Country comparison to the |Country comparison to the |

|produced per person? |world: 11 |world: 168 |world: 194 |world: 2 |

|Population Below Poverty Line – |12% (2004 est.) |NA |80% (2001 est.) |NA% |

|How many people live in poverty? | | | | |

|GDP Composition by Sector – What |agriculture: 1.2% |Agriculture: 23.3% |Agriculture: 47.1% |Agriculture: 8% |

|% of GDP is industry and |industry: 21.9% |Industry: 42.9% |Industry: 9.2% |Industry: 37% |

|services? |services: 76.9% (2009 est.) |Services: 33.8% |Services: 42.7% |Services: 55% (2009) |

| | |(2012 est.) |(2012 est.) | |

|Labor Force by Occupation – What |farming, forestry, and |Agriculture: 35% |Agriculture: 80% (2006 est.) |Agriculture: 0.8% |

|% of workers is in agriculture? |fishing: 0.7% |Industry and services: 65% |Industry and services: 20% |Industry: 39.4% |

| | |(2009 est.) |(2006 est.) |Services: 59.9% (2010) |

|Industries – What are the primary|leading industrial power in |Military products; machine |Oil, cotton textiles, |Electronics, metal |

|industries? |the world, highly diversified|building, electric power, |meatpacking, brewing, natron,|manufacturing, dental |

| |and technologically advanced;|chemicals; mining (coal, |soap, cigarettes, |products, ceramics, |

| |petroleum, steel, motor |iron, ore, limestone, |construction materials |pharmaceuticals, food |

| |vehicles, aerospace, |magnesite, graphite, copper, | |products, precision |

| |telecommunications, |lead, precious metals), | |instruments, tourism, optical|

| |chemicals, electronics, food |metallurgy; textiles, food | |instruments |

| |processing, consumer goods, |processing; tourism | | |

| |lumber, mining | | | |

|Are the industries primarily |Mostly producing for the |Mostly government consumption|Mostly producing for the |consumer |

|producing for consumer or |consumer (private citizens) | |consumer | |

|government consumption? Determine| | | | |

|this by assessing the industries | | | | |

|and their consumers – answer not | | | | |

|found at CIA WorldFactBook | | | | |

|Agriculture Products – What are |wheat, corn, other grains, |Rice, corn, potatoes, |Cotton, sorghum, millet, |Wheat, barley, corn, |

|the primary agricultural goods |fruits, vegetables, cotton; |soybeans, pulses; cattle, |peanuts, rice, potatoes, |potatoes; livestock, dairy |

|produced? |beef, pork, poultry, dairy |pigs, pork, eggs |manioc (tapioca); cattle, |products |

| |products; fish; forest | |sheep, goats, camels | |

| |products | | | |

|Industrial Production Growth Rate|-5.5% (2009 est.) |NA% |10.6% (2012 est.) |NA% |

| |country comparison to the | |Country comparison to the | |

| |world: 110 | |world: 8 | |

|Electricity Production |4.11 trillion kWh (2008 est.)|20.45 billion kWh (2009 est.)|95 million kWh (2009 est.) |NA |

| |country comparison to the | |Country comparison to the | |

| |world: 1 |country comparison to the |world: 197 | |

| | |world: 72 | | |

|Communications | | | | |

|Telephones – Main Lines in Use |150 million (2008) |1.18 million (2011) |31,200 (2011) |19,600 (2011) |

| |country comparison to the |Country comparison to the |Country comparison to the |Country comparison to the |

| |world: 2 |world: 71 |world: 175 |world: 191 |

|Internet Users |231 million (2008) |8 (2012) |168,100 (2009) |23,000 (2009) |

| |country comparison to the |Country comparison to the |Country comparison to the |Country comparison to the |

| |world: 2 |world: 227 |world: 145 |world: 190 |

|Transportation | | | | |

|Railways |total: 226,427 km |Total: 5,242 km |N/A |Total: 9km |

| |country comparison to the |Country comparison to the | |Country comparison to the |

| |world: 1 |world: 33 | |world: 134 |

|Roadways (Paved and Unpaved |total: 6,465,799 km |total: 25,554 km |Total: 40,000 km |Total: 380 km |

|Highways |country comparison to the |country comparison to the |Country comparison to the |Country comparison to the |

| |world: 1 |world: 101 |world: 88 |world: 201 |

| |paved: 4,209,835 km (includes|paved: 724 km | | |

| |75,040 km of expressways) |unpaved: 24,830 km | | |

| |unpaved: 2,255,964 km (2007) |(2006) | | |

|Airports with Paved Runways |total: 5,174 |Total: 39 |Total: 9 |N/A |

Reflection:

1. How can the presence or absence of natural resources and arable land affect a nation’s economy, regardless of the type of economic system?

|It can affect a nation’s economy because without natural resources there is nothing to make an economy out |

|Of. There’s no businesses, nothing. |

| |

| |

2. How can life expectancy and literacy rates affect the quality of labor in the economy?

|If life expectancy is shorter than the people work for shorter amounts of time, and literacy affects their ability |

|to work certain, and most jobs. So the quality would be lower if the rates were lower. |

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3. How can fertility rates affect the use of scarce resources?

|The more people that are born in the world, more resources are used. |

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4. How can GDP per capita and poverty rates indicate standards of living in each system?

|If there is more poverty then the standard of living in the country is probably a lot lower. |

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5. How can the size of the industrial/service sector and the agriculture employment rate indicate the level of industrialization?

|If there is more need for industrial/service and agriculture employees than the level of industrialization would |

|be higher. |

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6. How can electricity, communication, and transportation facilities indicate the potential for industrial growth?

|If there are more facilities than more can be used which means that the industrial growth could increase a lot. |

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7. Considering the lack of natural resources, the labor problems, and the lack of capital and little industrialization of developing countries, how can developing countries develop? (Hint: Look at Economy - Overview for Chad).

|When international prices are higher than they have a better chance of developing. Investment projects. |

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8. Now that you have studied the economic characteristics of these three countries, define the terms market-oriented, command, and developing economy in your own words. For each term, describe the specific characteristics of the countries you studied that would help to support your definition.

|Market-oriented means that whatever is needed is what is produced and purchased such as Liechtenstein and the United states. |

|Command economy is when the government has control over what is produced and who gets it, such as north Korea, where the government has strong control over|

|everything. |

|Developing economy is when a developing country is starting to slowly build its economy the best it can |

|when it doesn’t have the best natural resources, like Chad it’s not in the best location and doesn’t have the best natural resources but it is slowly |

|making its way into a better economy. |

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Economic Systems:

The institutional framework of formal and informal rules that a society uses to determine what to produce, how to produce and how to distribute goods and services.

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