_____ will be produced?

_____ be produced?

_____ the goods/services?

The way a country answers these questions determines what _____ it will have: Traditional, Command, Market

All economic decisions are based on customs, _____, & beliefs of the past

People will make what _____ and do the same things their parents did

The exchange of goods is done through

Bartering = trading _____

Some examples: villages in Africa & South America, the Inuit in Canada, _____

All economic decisions are made by the _____

The government owns most of the property, _____, determines the wages of workers, plans what will be made... everything.

This system has _____. More and more countries are abandoning it.

This system is _____; because of this, there are no PURE command countries in the world today.

Some countries are close: Cuba, _____, North Korea, former east Germany, etc.

All of these countries have the same type of government: _____! The government is in control of everything.

The government has _____; private citizens answer all economic questions.

In a truly free market economy, the government would _____ at all. Scary...

There would be no laws to make sure _____ like food and medicine

There would be no laws to _____ from unfair bosses

Because of this, there are _____, but some countries are closer than others

Since there are _____ that are purely command or purely market, what does that make them?

Most democratic countries have some _____

so we keep it simple and call them: _____

Of course, most countries' economies are _____ of system than another

The UK has a _____

It's actually _____ than any other European country

UK is economically strong, it's one of the world's _____

Over the last 30 years, the UK's government has _____ of many of the country's state-run companies

Since 1979, these companies, such as British Steel, British Coal, and British Airlines, are now under _____

This has set up _____ throughout the country instead of government control

What to produce? _____ and companies

How to produce? Individuals and _____

For whom to produce? _____ and companies

Economic Struggles: _____

Over depletion of natural resources (_____)

Improving public services which forces the country to _____

UK's government plays a _____ in the country's economy

It _____ and collects taxes, but it also gives citizens a lot of economic freedom

Individual citizens and _____ own most of the UK's land, factories, and resources

They can decide what to produce, how to produce, and _____ to charge

Germany has a _____

After reunification in 1990, East Germany had to _____ economic system and slowly towards a Market System

West Germany's market system experienced a _____ when it absorbed East Germany's command system

What to produce? Individuals and corporations; _____ on agriculture, telecommunications, & energy

How to produce? Individuals and corporations; government has some regulations on _____, telecommunications, & energy

For whom to produce? _____ and corporations; government has some regulations on agriculture, telecommunications, & energy

Modernizing the former East German economy (annual transfers from west to east _____)

The former East Germany's decayed economy continues to be a _____

Over depletion of natural resources (_____)

_____ (which forces the country to raise taxes)

Even though Germany's mixed economy has many market elements, the government still plays a _____ in the country's economy

The government collects _____ to pay for services for its poorer citizens

It also _____ certain industries

Even still, Germany citizens have a high level of _____

Russia has a _____

Russia's economy has been _____ economy and more towards a free Market economy since the fall of the Soviet Union in 1991... not there yet.

Even though many government owned companies are being sold to private businesses, Russia still faces _____

What to produce? individuals and corporations in most cases; government has _____ on businesses and controls many of the larger ones

How to produce? individuals and corporations in most cases; government has many restrictions on businesses and controls _____

For whom to produce? individuals and _____ in most cases; government has many restrictions on businesses and controls many of the larger ones

Russia's _____ as it transitions out of a command economy into a mixed market one.

Upgrading old manufacturing plants and industries to modern, more efficient standards has been a _____

Today, Russia's citizens have a _____ of economic freedom

They can _____ and run their own businesses

Russia's government _____ many of the country's resources and major industries

The government also makes laws to _____ of goods & services

Economic decisions are made based on the _____ that occur as buyers & sellers interact in the market place.