Comparative Systems Worksheet - Northern Highlands



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 print it

Data Worksheet

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

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

|Geography | | | | |

|Natural Resources – How many and |coal, copper, lead, | | | |

|what types of natural resources |molybdenum, phosphates, | | | |

|are available? |uranium, bauxite, gold, iron, | | | |

| |mercury, nickel, potash, | | | |

| |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: 16.29% | | | |

|land is arable (capable of being |permanent crops: 0.26% | | | |

|farmed)? |other: 83.44% (2011) | | | |

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

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

|People | | | | |

|Life Expectancy at Birth – How |total population: 79.56 years| | | |

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

|expected to live? |world: 42 | | | |

| |male: 77.11 years | | | |

| |female: 81.94 years (2014 | | | |

| |est.) | | | |

|Total Fertility Rate – How many |2.01 children born/woman | | | |

|children does each woman have, on|(2014 est.) | | | |

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

| |world: 123 | | | |

|Physician Density |2.42 physicians/1,000 | | | |

| |population (2009) | | | |

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

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

|write? |total population: 99% | | | |

| |male: 99% | | | |

| |female: 99% (2003 est.) | | | |

|Government | | | | |

|Government Type –How are leaders |Constitution-based federal | | | |

|elected? |republic; strong democratic | | | |

| |tradition | | | |

|Military Spending as a Percentage|4.35% of GDP (2012) | | | |

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

| |world: 9 | | | |

|Economy | | | | |

|GDP Per Capita – What is the | | | | |

|value of goods and services |$52,800 (2013 est.) | | | |

|produced per person? |country comparison to the | | | |

| |world: 14 | | | |

|Unemployment Rate |7.3% (2013 est.) | | | |

| |country comparison to the | | | |

| |world: 79 | | | |

|Population Below Poverty Line – | | | | |

|How many people live in poverty? |15% (2010 est.) | | | |

|GDP Composition by Sector – What | agriculture: 1.1% | | | |

|% of GDP is industry and |industry: 19.5% | | | |

|services? |services: 79.4% | | | |

| |(2013 est.) | | | |

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

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

|Labor Force by Occupation – What |farming, forestry, and | | | |

|% of workers is in agriculture? |fishing: 0.7% | | | |

|Industries – What are the primary|leading industrial power in | | | |

|industries? |the world, highly diversified| | | |

| |and technologically advanced;| | | |

| |petroleum, steel, motor | | | |

| |vehicles, aerospace, | | | |

| |telecommunications, | | | |

| |chemicals, electronics, food | | | |

| |processing, consumer goods, | | | |

| |lumber, mining | | | |

|Are the industries primarily |Mostly producing for the | | | |

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

|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, | | | |

|the primary agricultural goods |fruits, vegetables, cotton; | | | |

|produced? |beef, pork, poultry, dairy | | | |

| |products; fish; forest | | | |

| |products | | | |

|Industrial Production Growth Rate|2.5% (2013 est.) | | | |

| |country comparison to the | | | |

| |world: 115 | | | |

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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?

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

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

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

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

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6. 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.

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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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