Differing Idealogies

Differing Ideologies SS.912.3.10

​Today we will discuss different economical ideologies.

Open Ended

What does the term "Economics" mean to you

​Economics - is the concern with the production, consumption and the distribution of wealth

​Many countries around the world have different views how how resources and wealth should be consumed and distributed.

​Market Economy
A market economy is an economic system in which economic decisions and the pricing of goods and services are guided by the interactions of a country's individual citizens and businesses through supply and demand.

Multiple Choice

What is a Market Economy?

• An economic system in which the production and distribution of goods and services is determined by the interactions of buyers and sellers in a competitive market.
• An economic system in which the production and distribution of goods and services is determined by the interactions of producers and consumers in a competitive market.
• An economic system in which the production and distribution of goods and services is determined by the interactions of buyers and sellers in a non-competitive market.
• An economic system in which the government controls the production and distribution of goods and services.

​Mixed Economy

A mixed economic system is a system that combines aspects of both capitalism and socialism. A mixed economic system protects private property and allows a level of economic freedom in the use of capital, but also allows for governments to interfere in economic activities in order to achieve social aims.

Multiple Choice

What is a Mixed Economy?

• An economic system that combines elements of both capitalism and communism.
• An economic system that combines elements of both socialism and feudalism.
• An economic system that combines elements of both capitalism and socialism.
• An economic system that combines elements of both communism and socialism.

​Planned economy

A planned economy can be defined as a type of economic system where financial decisions are made according to government plans. All decisions related to investments, production and other economic parameters are structured as per the decisions of a central authority.

Multiple Choice

What is a Planned Economy?

• An economic system in which the government or a central authority controls all aspects of the economy.
• An economic system in which the government controls the economy only during times of crisis.
• An economic system in which the government controls only some aspects of the economy.
• An economic system in which individuals control all aspects of the economy.

Multiple Choice

What type of Economy does the United States have?

• Command Economy
• Market Economy
• Planned Economy
• Mixed Economy

Lets Talk About The Different Economic Ideologies

​Capitalism is often thought of as an economic system in which private actors own and control property in accord with their interests, and demand and supply freely set prices in markets

​Capitalism

Multiple Choice

What is Capitalism?

• An economic system characterized by government ownership of resources and the pursuit of profit through market competition.
• An economic system characterized by equal distribution of resources and the pursuit of profit through market competition.
• An economic system characterized by private ownership of resources and the pursuit of profit through market competition.
• An economic system characterized by private ownership of resources and the pursuit of profit through government intervention.

​Anarchism is a political philosophy and movement that is skeptical of all authority and seeks to abolish capitalism.

​Anarachy

Multiple Choice

What is the best description of Anarchy?

• A system of government with strict laws and regulations.
• A state of society with a strong central authority.
• A form of government where power is concentrated in the hands of a few individuals.
• A state of society without government or law.

​Socialism is a political ideology that aims to give workers shared ownership of the tools, land, and buildings that they use to make products or provide services (called the means of production).

​Socialism

Multiple Choice

How is the distribution wealth divided in socialism?

• Wealth is concentrated among the ruling class.
• Wealth is distributed randomly among the population.
• Wealth is divided more equally among the population.
• Wealth is distributed based on merit and achievement.

​Communism is a type of government as well as an economic system (a way of creating and sharing wealth). In a Communist system, individual people do not own land, factories, or machinery. Instead, the government or the whole community owns these things. Everyone is supposed to share the wealth that they create.

​Communism

Multiple Choice

What is communism?

• A political and economic ideology that promotes individual ownership of resources and the existence of social classes.
• A system of government where power is concentrated in the hands of a single ruler.
• A political and economic ideology that advocates for the collective ownership of resources and the absence of social classes.
• A religious belief system that emphasizes the worship of nature and natural forces.