3 Economic types illustrated with cows by Ed Snavely

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Slide Notes

3 Economic types illustrated with cows

Published on Apr 09, 2016

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PRESENTATION OUTLINE

Which Economic System

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You own four cows. The government takes one to feed a family who has no cows.

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You sell one, and force the others to work harder and longer

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The government doesn't mess with you because the herd is how your family survives.

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Limitless consumer choice

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Choice limited to what people grow themselves

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Choices limited to what government allows

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Consumers and producers answers basic economic questions

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Villagers and clans answer basic economic questions

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Government answers basic economic questions

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Private ownership rights strongly protected

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Difficult to acquire new wealth

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Government owns and manages property for common good

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Ed Snavely

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