Market Economic System

Market Economic System

By Jah Lion

THE MARKET ECONOMIC SYSTEM IS ALSO CALLED

F..................... M....................... E............................ S............................

U...................​....... E............................. S..............................

F........................... E............................. E............................. S............................

L...........................-F.............................. E.............................. S...........................​

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Open Ended

What is a 'Market'?

Open Ended

What are the main activities that would occur in the Market?

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In a market environmet there is alot of B................................................. and S............................................................

Fill in the Blanks

Therefore there are B..................................................... and S.......................................................

Fill in the Blanks

How does the Sellers know what to sell????

Multiple Choice

Sellers decide what to sell based on

• Comments

• Buyers' Demand and Sellers' supply

• Goods supplied by supplier

• Number of buyers

Open Ended

What is the meaning of the word 'Demand'?

Multiple Choice

Demand is

• A need

• A want

• A request made by the customer sometime ago for a good or service

• A want and a willingness to pay for the good or service

Open Ended

What is 'Supply'

Multiple Choice

Supply is

• A want backed by the ability fo pay for it

• The ability to make something available for sale

• good or services

• making water available

Supply and Demand are referred to as M_____ F_____!!

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Open Ended

Do you know Why???

Fill in the Blanks

A M........................................... is a situation where B..................................... and S....................................... come together to T.....................................

Open Ended

What are other names for the Market Economic System?

Multiple Choice

Sellers know what to provide for sale based on

• People's comments

• The market forces of demand and supply

• They just choose

• They look at what their competitors providing

Open Ended

What do the market forces tell us, if this system relies on them.

Since they tell us who wants what and what is to be supplied

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They tell us how to O............., P................ and D................ our R.................. or FOP

Some text here about the topic of discussion

Therefore they tell us how to A............. our R................

So how does the market economy answer the Economic Questions?

What...........................................................................?

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How ........................................................​....................?

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For ...............................................................................?​

A market system is very different from command! A CLUE

​The market system has very little or none of this! Where as the Command system has a lot of this! What is it???????

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Who do you think owns all the Resources in this system???

​Some text here about the topic of discussion.

​What are other terms for Resources?

So the resources are owned by P.....................

I...................................​

Some text here about the topic of discussion

Which Sector is the more dominant sector in this economic system?

Therefore, the aim of this system is to make a P..................

Do you think that this system would have competition? Why do you think so?

Some text here about the topic of discussion

​Features/Characteristics/traits/marks

So tell me some features of the Market Economic System