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5.3 Economic Systems

Published on Nov 18, 2015

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PRESENTATION OUTLINE

1.

TRADITIONAL ECONOMY

ECONOMY WHERE DECISIONS ARE MADE BASED ON CUSTOMS AND HABITS
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2.

MARKET ECONOMY

INDIVIDUAL PRODUCERS AND CONSUMERS MAKE ECONOMIC DECISIONS
Photo by kevin dooley
3.

COMMAND ECONOMY

CENTRAL GOVERNMENT MAKES ALL ECONOMIC DECISIONS
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4.

MIXED ECONOMY

COMBINES ELEMENTS OF TRADITIONAL, MARKET, AND COMMAND ECONOMY SYSTEMS
Photo by Lance Cheung

Rick Moulton