COMPARATIVE ECONOMIC SYSTEMS



COMPARATIVE ECONOMIC SYSTEMS

FEATURES(((

SYSTEM ( |OWNERSHIP OF RESOURCES

(Who owns the productive resources?) |PROFIT MOTIVE

(Do people have an incentive to work hard? Why or why not?) |CONSUMER SOVEREIGNTY

Do consumers have power? Why or why not?) |COMPETITION

(Do businesses compete? Why or why not?) |GOVERNMENT REGULATION

(What role does the government play?) |ADVANTAGES AND DISADVANTAGES

(pros and cons) | |

Pure Market

| | | | | | | |

Pure Command

| | | | | | | |

Mixed Market

| | | | | | | |

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