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AP Economic Systems

AP Economic Systems

Assessment

Presentation

Social Studies

12th Grade

Practice Problem

Easy

Created by

Michelle Thomas

Used 2+ times

FREE Resource

24 Slides • 12 Questions

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Open Ended

In Econ, we’ll make a lot of models (graphs). And we know that there’s a lot of factors that will affect a scenario.

  • What will probably happen to you on May 30?

  • What could happen that would prevent it?

  • Ceteris paribus, what will happen to you on May 30?

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Multiple Choice

Another name for Market Economy?

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Capitalism

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Communism

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Socialism

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Traditionalism

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Draw

Draw a visual that represents Capitalism to you

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Multiple Choice

Another name for command economies are?

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Communism

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Capitalism

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Socialism

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Traditionalism

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Drag and Drop

A ​
economy was designed by ​
and focuses on freedom of choice and efficiency. Production factors are owned by ​
and businesses, with prices created through ​
(buyers and sellers compromising). There is also
of goods. Profits give an incentive to work and innovate.
Drag these tiles and drop them in the correct blank above
Market
Adam Smith
individuals
supply and demand
variety
Command
Karl Marx
the government
no variety
no competition

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Open Ended

Why does no perfect example of an economic system exist? (Answer in 3-4 sentences)

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Open Ended

Describe Adam Smith's idea of the Invisible Hand. (Answer in 3-4 sentences)

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Actual image of a neighborhood in Brazil

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Open Ended

What would the affect of wealth inequality be on a economy and society?

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Match

Match the following

Communist Manifesto

Wealth of Nations

Inherent Inequality

History of Oppression & inefficient

Karl marx

Adam Smith

Market (Capitalism)

Command (communism)

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Open Ended

What do you believe it would take to have a true representation of a market or command economy?

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Poll

Which Economic System do you favor?

Command

Capitalism

Mixed

Socialism

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Open Ended

Research one of the other two economic systems (Socialism or Traditional) and list 4-5 facts about them and 2-3 country examples.

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