1. Word cloud
120 seconds
What is an economic system?
2. Slide
60 seconds
Understanding Economics Systems
Market Economy
Command Economy
Mixed Economy
Traditional Economy
3. Slide
60 seconds
There are four major economic systems: Capitalism, Socialism, Communism and Mixed Economy. The United Nations has 193 member countries, each with its own economic system. Most of the world's economies are mixed economies, meaning they are a mix of elements from the other economic systems.
Did you know?
4. Poll
60 seconds
In a market economy, who determines the prices of goods and services?
- Banks and financial institutions
- Government officials
- Consumers and producers
5. Poll
60 seconds
In a command economy, who determines the prices of goods and services?
- Banks and financial institutions
- Government officials
- Consumers and producers
6. Poll
60 seconds
What does GDP stand for in economics?
- Gross Domestic Product
- Global Distribution Process
- General Development Plan
7. Open question
180 seconds
Work together : Create a visual representation of the four types of economies: mixed, market, command, and traditional.
Made with ❤️ from Norway