Name: Class:

Economics

Scarcity

Capital Resources

Natural Resources

Human Resources

Entrepreneurial
Resources

Command economy

Market economy

Socialist economy

Mixed Economy

Traditional Economy
List characteristics for each type of economic system by answering questions in the left column for each type of
economic system.

Who makes
economic
decisions?

What is the
government's role
in the economy?

What motivates
the economy?

How are
resources
allocated?

Is the level of
competition high
or low in the
economy?
List examples of
countries with this
type of economy.
 • Advantage:

• Advantage:
• Disadvantage:

• Disadvantage:

• Advantage: • Advantage:

• Disadvantage: • Disadvantage:
1. Name some similarities between Command and Traditional economic systems.

2. Name some similarities between Command and Mixed economic systems.

3. Name some similarities between Market and Traditional economic systems.

4. Name some similarities between Market and Command economic systems.

5. Name some similarities between Market and Mixed economic systems.

6. In addition to all these being Global Economic Systems, name one major similarity in all systems.
What is issued as proof of stock ownership?

What is the term for a percent of the company's profit that is paid to the shareholders?

If Sandy owns 10 shares of stock, and there are 50 shares outstanding, what is Sandy's percent of ownership?

Write an explanation under each column in the Stock Table.

GE General Electric Co 6567 26.86 24.64 25.73 -2.40

Market

Supply

Demand

Law of Demand

Law of Supply

Price
 Name



 •

•
•

•
•
•
•

•
•
•
•

•
•
•
•
•
Complete the chart below, stating
each economic factor has impacted the U.S. economy, and the factor has had this effect on
the economy.

 Raise interest
rates

 Lower interest
rates

 Circulate more
money

 Bull market

 Bear market
 What type of economic system does the United States (U.S.) have?

List two other countries that have a similar economic system:

List two advantages of the U.S. economic system:

List two disadvantages of the U.S. economic system:

Give an example of a U.S. regulatory agency:

Do you think regulatory agencies are necessary? Why or why not?

Who or what takes care of peoples' needs in the U.S. economic system?

Who or what satisfies peoples' wants in the U.S. economic system?

List one similarity and one difference between the U.S. economy and China's
economy:

6208 – Exploring Business Technologies2008 Page 126