Comparative Systems Worksheet - LizardFoust



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, molybdenum, |Coal, lead, tungsten, zinc, |cotton, sorghum, millet, |hydroelectric potential, |

|what types of natural resources |phosphates, uranium, bauxite, |magnesite, iron, copper, |peanuts, rice, potatoes, |arable land |

|are available? |gold, iron, mercury, nickel, |gold, pyrites, salt, |manioc (tapioca); cattle, | |

| |potash, silver, tungsten, zinc, |fluorspar, hydro power |sheep, goats, camels | |

| |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% |Arable land: 19% |arable land: 3.82% |arable land: 21.88% |

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

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

|People | | | | |

|Life Expectancy at Birth – How |total population: 78.11 years |Total: 69.51 |50 |total population: 81.59 years |

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

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

| |male: 75.65 years | | |male: 79.45 years |

| |female: 80.69 years (2009 | | |female: 84.29 years (2013 |

| |est.) | | |est.) |

|Total Fertility Rate – How many |2.05 children born/woman (2009|1.99 |4.8 children born/woman (2013 |1.69 children born/woman (2013|

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

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

| |world: 126 | | |world: 171 |

|Literacy Rate – What % of people |definition: age 15 and over |Age 15 and over |15 and over- 35.4% of total |100% |

|over the age of 15 can read and |can read and write |100% can read and write |population | |

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

| |male: 99% | | | |

| |female: 99% (2003 est.) | | | |

|Government | | | | |

|Government Type –How are leaders |Constitution-based federal |Communist one man dictatorship|Republic-vote? |Hereditary constitutional |

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

| |tradition | | | |

|Government Spending as Percent of|GDP (PPP): $14.26 trillion |40 billion |$21 billion (2012 est.) |$3.2 billion (2009) |

|GDP (Budget Expenditures Divided |(2009 est.) | |country comparison to the |country comparison to the |

|by GDP). Find in Economy section |Budget: revenues: $1.914 | |world: 129 |world: 179 |

| |trillion | |$19.99 billion (2011 est.) |$3.216 billion (2008) |

| |expenditures: $3.615 trillion | |$19.89 billion (2010 est.) |$3.159 billion (2007 |

| |(2009 est.) | | | |

| | | | | |

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

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

|Military Spending as a Percentage|4.06% of GDP (2005 est.) |NA |5% (2012 est.) |No military- national police |

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

| |world: 28 | |world: 64 | |

| | | |0.5% (2011 est.) | |

| | | |13% (2010 est.) | |

|Economy | | | | |

|Economy Overview – What are the |Long-term problems include |North Korea has a struggling |Chad's primarily agricultural |Highly industrialized, free |

|most serious economic problems |inadequate investment in |economy, shortages of crops |economy will continue to be |enterprise economy, second |

|facing each of these four |economic infrastructure, |and fuel, they receive much |boosted by major foreign |highest capita income in the |

|nations? Summarize from Economic |rapidly rising medical and |aid from China. 11 billion in |direct investment projects in |world. 20% tax rate |

|Overview |pension costs of an aging |debt with Russia. Kim Jong |the oil sector that began in | |

| |population, sizable trade and |working on economy. |2000. | |

| |budget deficits, and | | | |

| |stagnation of family income in| | | |

| |the lower economic groups. | | | |

|GDP Per Capita – What is the |$46,400 (2009 est.) |$1800 |$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 |

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

| | | |$1,900 (2011 est.) |$90,600 (2008 est.) |

| | | |$1,900 (2010 est.) |$89,700 (2007 est.) |

|Population Below Poverty Line – |12% (2004 est.) |NA |80% |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: 43.7% (2012 est.) |services: 55% (2009) |

|Labor Force by Occupation – What |farming, forestry, and |Agriculture: 35% |4.293 Million |agriculture: 0.8% |

|% of workers is in agriculture? |fishing: 0.7% |Industry: 65% | |industry: 39.4% |

| | | | |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, iron |(sodium carbonate), soap, |products, ceramics, |

| |petroleum, steel, motor |ore, limestone, magnesite, |cigarettes, construction |pharmaceuticals, food |

| |vehicles, aerospace, |graphite, copper, zinc, lead, |materials |products, precision |

| |telecommunications, chemicals,|and precious metals), | |instruments, tourism, optical |

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

| |consumer goods, lumber, mining|processing; tourism | | |

|Are the industries primarily |Mostly producing for the |Government consumption because|The people produce for | |

|producing for consumer or |consumer (private citizens) |since they are a communist |themselves a lot. It’s sounds | |

|government consumption? Determine| |gov’t nothing goes through to |like they are getting away | |

|this by assessing the industries | |the people without going |from traditional living and | |

|and their consumers – answer not | |through the gov’t |going into | |

|found at CIA WorldFactBook | | | | |

|Agriculture Products – What are |wheat, corn, other grains, |rice, corn, potatoes, |cotton, sorghum, millet, |wheat, barley, corn, potatoes;|

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

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

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

| |products | | | |

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

| |country comparison to the | | | |

| |world: 110 | | | |

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

| |country comparison to the | | | |

| |world: 1 | | | |

|Communications | | | | |

|Telephones – Main Lines in Use |150 million (2008) |1.18 million |31, 200 |19600 |

| |country comparison to the | | | |

| |world: 2 | | | |

|Internet Users |231 million (2008) |NA | |23,000 |

| |country comparison to the | | | |

| |world: 2 | | | |

|Transportation | | | | |

|Railways |total: 226,427 km |5,242 |NA |9 km |

| |country comparison to the | | | |

| |world: 1 | | | |

|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 |note: consists of 25,000 km of|paved: 380 km (2010) |

| |75,040 km of expressways) |unpaved: 24,830 km (2006) |national and regional roads | |

| |unpaved: 2,255,964 km (2007) | |and 15,000 km of local roads; | |

| | | |206 km of urban roads are | |

| | | |paved (2011) | |

| | | | | |

| | | | | |

| | | | | |

| | | | | |

|Airports with Paved Runways |total: 5,174 |39 |Na |na |

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?

|Well, if a country has a natural resource it can create jobs for people, because you need someone to extract it and since its already existing in that |

|country they don’t have to pay anything for it, just the price of managing and extracting it then from there out its all profit. |

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

|If you have educated and literate workers there is a way less chance of injury on the job site and you can have people work for longer periods of there |

|life because they have longer life expectancy. |

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

|With more and more kids being brought into the world they need stuff as well as everyone else so that resource is being used that much more. |

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

|If the GDP per capita is high and the poverty rates are low you can indicate a good healthy standard of living where people have proper health care and |

|housing for all. If the GDP per capita is low and poverty rates are high you can indicate that the people there are rather poor and this could lead to lack|

|of health care and sick people thus a low life expectancy. |

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

|The size of the industrial/service sector and the agriculture can indicate how industrialized a country is. |

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

|If a country has a sufficient electricity, sources of communication and transportation facilities then they have maximum potential for industrial growth. |

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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).

|Developing countries such as Chad can continue to gain profit on their oil sales, then continue to develop their gov’t then set up programs to get people |

|the health care they need and put people back into work there and out of poverty. |

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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.

|The US and Liechtenstein are developed countries with developed economies. Liechtenstein claimed to be a market oriented economy and the US is a mixed |

|economy. Chad is a developing country they are just getting oil fields extracted and starting to make their economy sufficient. |

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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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