Economic Systems Unit 12 Notes. Different Economic Systems Scarcity refers to the limited supply of something. –Every country must deal with the problem.
An economic system describes how a country’s economy is organized Because of the problem of scarcity, every country needs a system to determine how to.
Economic Systems. The purpose of economics The purpose of economics Economics seeks to answer the basic question of how to deal with SCARCITY.
ECONOMIC SYSTEMS Around the World. Learning Targets 4a. Understand the various forms of economic systems which exist in different societies and cultures.
Comparative Economic Systems Do Now: Answer the following question to the best of your ability: What problem/issue determines how a country needs a system.
Economic Systems
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Economic Systems. Why do we have Economic Systems? Survival for any society depends on its ability to provide food, clothing, and shelter for its people.
Economic Systems UNIT TEN NOTES. Economic Systems An economic system describes how a country’s economy is organized Because of the problem of scarcity,