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The Economies of Cuba, Brazil and Canada Prezi

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Sean Simpson

on 22 February 2013

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Transcript of The Economies of Cuba, Brazil and Canada Prezi

Standard: SS6E1 The student will analyze different economic systems.
a. Compare how traditional, command, and market economies answer the economic questions of
(1) what to produce, (2) how to produce, and (3) for whom to produce.
b. Explain how most countries have a mixed economy located on a continuum between pure market and pure command.
c. Compare and contrast the basic types of economic systems found in Canada, Cuba, and Brazil. 1. What are the 4 economic systems?
2. Which Latin American country has a command economy?
3. Which two countries studied today have a market economy?
4. Who makes the economic decisions in a command economy?
5. What are the 3 economic questions that every country must answer?
6. What type of economy do most democratic countries have? Let’s Review! A group of financial experts set up a rating system to help us understand how much command and market each country has.

This Index of Economic Freedom gives each country a number that can be plotted on a economic continuum.

The United States has an Economic Freedom number of 77.6. Since this number is closer to the market side of the continuum, we label the U.S. as a Market Economy.
Now, lets compare the economies of Brazil, Canada, and Cuba! Economic Continuum Comparing the Economies of Brazil, Canada, and Cuba 1. What are the 4 economic systems? Traditional, Market, Command, and Mixed
2. Which Latin American country has a command economy? Cuba
3. Which two countries studied today have a market economy? Brazil and Canada
4. Who makes the economic decisions in a command economy? The government
5. What are the 3 economic questions that every country must answer? What to produce? How to produce? and For whom to produce?
6. What type of economy do most democratic countries have? Market Let’s Review! What to Produce?
Businesses decide and government approves/denies it

How to produce it?
Businesses decide & government regulates procedures

For whom to produce?
Businesses decide based on supply & demand (price)

Canada has an economic freedom index of 79.4

Since this number is closer to the market side of the continuum, Canada has a Market Economy How does Canada answer the
3 Economic Questions? What to Produce?
Businesses decide and government approves/denies it

How to produce it?
Businesses decide & government regulates procedures

For whom to produce?
Businesses decide based on supply & demand (price)

Brazil has an economic freedom index of 57.7

Since this number is closer to the market side of the continuum, Brazil has a Market Economy How does Brazil answer the
3 Economic Questions? How many basic types of economic systems are there? 3

Name the economic systems. Traditional, Command, Market

Which economic system do most textbooks say is the most common throughout the world? Mixed. A mixed system is not an economic system but rather a blending of two different types of systems located on the continuum.
Economics What to Produce?
Government makes all economic decisions

How to produce it?
Government decides how to make goods/services

For whom to produce?
Whoever the government decides to give them to

Cuba has an economic freedom index of 28.5

Since this number is closer to the command side of the continuum, Cuba has a Command Economy How does Cuba answer the
3 Economic Questions? Georgia Performance Standard
Full transcript