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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

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

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

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