Government And Economic Systems
Published on Dec 07, 2015
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PRESENTATION OUTLINE
COMMAND ECONOMY
- Advantages - Equally distributes income,
- The government decides which goods are produced
- Disadvantages - No consumer choice,
- No variety of goods,
- No individual freedom
Photo by StarObs
MARKET ECONOMY
- Advantages - Competition leads to lower costs,
- Motivation to look for new products to manufacture
- Disadvantages - Exploitation of workers,
- Overproduction of goods
- Wealth goes to what will earn the largest profit and not into what is needed
Photo by Mad-Loïs
TRADITIONAL ECONOMY
- Advantages - Produces goods required for survival,
- People know what their roles or jobs are
- Disadvantages - Lower productivity,
- Lower standard of living,
- People might not enjoy their job
Photo by Ashtyn Renee
FEDERAL GOVERNMENT
- Advantages - Government is local,
- States have freedom to make own policies
- Disadvantages - Conflict between state and government,
- Can have corruption,
- Can lead to unequal distribution of wealth between states
Photo by historic.brussels
SOCIALISM
- Advantages - Equal distribution of wealth,
- People provided education and healthcare
- Disadvantages - Limits peoples political freedom,
- No increase in the standard of living
Photo by bengt-re
COMMUNISM
- Advantages - Rapid development and economic growth,
- Equal distribution of wealth
- Disadvantages - Personal freedom is lost,
- Workers are treated badly,
- The state controls all production
Photo by Un rosarino en Vietnam
REPUBLIC GOVERNMENT
- Advantages - No dictator,
- People can participate in government and give opinions,
- People elect representatives
- Disadvantages - Majority wins so may not be happy with winner,
- Might unknowingly vote for a bad representative
Photo by marsupilami92
DICTATORSHIP
- Advantages - Establishes a strong government,
- Provides prompt action
- Disadvantages - People have no rights,
- System is based on force and violence
Photo by www.steveconover.info
