Different types of economic systems - Loudoun County Public …

Different types of economic systems

What is an economic system?

? A country's economy or economic

system is that society's way of coordinating the production and consumption of goods and services.

What are the three basic questions of any economic system?

? What will be produced? ? How will it be produced? ? For whom will it be

produced?

What are the different goals of an economic system?

The way a society answers these questions will depend on what that society's values are. Here are some possibilities.

? Economic Freedom ? Economic Efficiency ? Economic Equity (or Fairness) ? Economic Growth ? Economic Security ? Economic Stability ? Environmental Sustainability

How would you rank these goals in importance (from 1-7))?

? Economic freedom ? Economic efficiency ? Economic equity (or fairness) ? Economic growth ? Economic security ? Economic stability ? Environmental sustainability

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download