Salley worked in a hair salon for years. She saved her all her money to make her dream of owning her own place come true. Today it happened. Pello Princesa Salon or Princess Hair Salon is having their Grand Opening!

Sally’s ability to operate a beauty salon is an example of a ___ economic system .

A ___ engages in tertiary economic activity.

A country with a mostly rural population engaged in mainly primary economic activities is probably a

Jaylynn has opened a dance club. Tien and Marcela are security guards at the restaurant. Which economic activity level is their work?

Blake and Herman have opened a very successful furniture making factory. This is an example of which economic activity?

Improving educational opportunity in a specific society will likely have which of the following impacts?

What are the characteristics of a traditional economic system?

Which type of economy has central ownership and complete total government control of all means or factors of production?

Which type of economy is controlled by the government?

Which type of economy is based on traditions and beliefs?

This economy would most likely have a Totalitarian dictator.

Which type of economy involves trading, and doesn't usually use money?

In my country my village does the same work that my family has done for generations.

In my country, the government controls the economy. It assigns jobs, sets production goals, and decides wages.

In my country, the government tells me where to work.

What is a “surplus” of goods in agriculture mean?

What are the advantages of a Free Market Economy?

Which would be a problem for a country with a traditional economy?

Which country has a Communist Command economy?

Custom and___________ form a ___________ economy.

People in a traditional economy will use _________ to obtain goods.

In a market economy, how are economic decisions made?

Japan is known for making high quality technology. Their human resources have high level of education and pride in producing a superior product. This is known as _________.

Moana's village would be an example of a ___________ economy.

A ______________ economy is guided primarily by custom, habit, and ritual.

A _____________ economy is completely determined and controlled by a central planning authority or the government

consumer, producer, profit motivation for entrepreneurs

Ways to meet basic needs passed down by ancestors generation after generation

centrally planned economy

central ownership of all property, resources, and factors of production

lack of, very limited, or no consumer choice

some government interference

Identify the characteristics of a free market economy

the consumer is MOST important in what economic system?

Socialism characteristics: government owns many large industries but there are also privately owned businesses. The government provides free health care, retirement benefits, and a university education. Which countries have a socialist economic system?

The economy of Atlantia is defined by the private ownership of the means of production by Atlantia’s citizens. While owners are usually free to utilize their property as they see fit, the government does intervene to ban certain harmful products (i.e. addictive drugs, lead paint, etc) from entering the market. Atlantia’s parliament has recently passed a minimum wage law setting minimum hourly compensation at $5.00 per hour. Atlantia is an example of a ________ economy

You are the leader of a revolutionary movement which has recently overthrown the government of the tiny country of Tropico. During the Tiger Party Congress, held shortly after your glorious victory, the party committee decreed that “to free Tropico’s struggling masses from the bootheels of capitalist, it is necessary to immediately enforce a command economy for our final victory.” Which of the following actions would create a command economy in Tropico?

Societies engaged in subsistence agriculture will also be engaged in ____________________ industry.

This farm produces a surplus of wheat which it sells on the open market. This is an example of ___________ agriculture.

Which type of agriculture does the drawing represent?

Which type of agriculture does the drawing represent?