Economic Decisions And Systems

2. <ul><li>Moving to a city… </li></ul> 3. <ul><li>Problem: What do I want to do after high school?…
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  • 2. <ul><li>Moving to a city… </li></ul>
  • 3. <ul><li>Problem: What do I want to do after high school? </li></ul><ul><li>Choices: College or Job </li></ul><ul><li>College Advantage </li></ul><ul><li>Better education </li></ul><ul><li>More jobs open up </li></ul><ul><li>Qualify for a better paying job </li></ul><ul><li>Job Advantage </li></ul><ul><li>Make money </li></ul><ul><li>Pay for college later on </li></ul>
  • 4. <ul><li>Choice- College </li></ul><ul><li>Act- Go to a college </li></ul><ul><li>Review- think about if I was at a job instead </li></ul><ul><li>College Disadvantage </li></ul><ul><li>Expensive </li></ul><ul><li>Not much time for a job </li></ul><ul><li>Job Disadvantage </li></ul><ul><li>No further education right out of high school </li></ul><ul><li>Less jobs available </li></ul>
  • 5. <ul><li>Problem: How should I get to Florida? </li></ul><ul><li>Choices: drive or fly </li></ul><ul><li>Driving Advantage </li></ul><ul><li>Saves money </li></ul><ul><li>Have your car in FL </li></ul><ul><li>Can stop along the way </li></ul><ul><li>Flying Advantage </li></ul><ul><li>Much faster </li></ul><ul><li>More convenient </li></ul>
  • 6. <ul><li>Choice- Fly </li></ul><ul><li>Act- Fly to Florida </li></ul><ul><li>Review- think about if I was driving instead </li></ul><ul><li>Driving Disadvantage </li></ul><ul><li>Takes much longer </li></ul><ul><li>Not convenient </li></ul><ul><li>Have to stop for food </li></ul><ul><li>Flying Disadvantage </li></ul><ul><li>Can’t stop anywhere else on the way </li></ul>
  • 7. <ul><li>In a command economy, the resources are owned and controlled by the gov’t. </li></ul><ul><li>Example- China </li></ul><ul><li>Advantage- everything is under control. </li></ul><ul><li>Disadvantage- personal economic freedon is limited. </li></ul>
  • 8. <ul><li>A market economy is an economy that relies chiefly on market forces to allocate goods and resources and to determine prices. </li></ul><ul><li>Example- Canada </li></ul><ul><li>Advantage- growth and efficiency </li></ul><ul><li>Disadvantage- can be hazardous for economies like India and China </li></ul>
  • 9. <ul><li>Capitalism is an economic system based on private ownership of capital . </li></ul><ul><li>Example- United States </li></ul><ul><li>Advantage- the government has limited control over business, which lets business compete. </li></ul><ul><li>Disadvantage- barriers between people in terms of how much wealth they have or how much money they make. </li></ul>
  • 10. <ul><li>Communism is a form of socialism that abolishes private ownership </li></ul><ul><li>Example- China </li></ul><ul><li>Advantage- don’t have to worry too much about different classes of wealth </li></ul><ul><li>Disadvantage- do not have a lot of freedom at all. </li></ul>
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