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Copy of Economic Systems and Levels of Industry

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Chris Housman

on 6 September 2016

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Transcript of Copy of Economic Systems and Levels of Industry

Economic Systems and Levels of Industry!
Consider
What does
freedom
mean to you?

How about
equality
?

Is one more important than the other?
Command Economy
Also referred to as a planned economy
Means of production are publicly owned (government controlled)
Prices are also controlled by the government
What type of government is associated with a command system?
Examples?
Market Economy
Means of production are privately owned.
Based on supply and demand.
No government control of prices.
Examples?
Mixed Economy
Mixed economies are a combination of the aforementioned types
They are based on the idea of a free market and private ownership, but the government provides oversight.
Examples?
Review Video
Modern Command Economies
Levels of Industry
Primary
Secondary
Tertiary
Quaternary
People who work at this level of the economy are tasked with
extracting

natural resources from the earth.
Jobs at the Primary Level
Miner
Farmer
Fisherman
Lumberjack
People who work in the secondary level of industry
produce finished goods for others to use or consume.
Jobs at the Secondary Level
Construction Worker
Auto Worker
Carpenter
Dressmaker
This level of the economy is the
service industry (not including education).
Jobs at the Tertiary Level
Salesperson
Bus Driver
Waitress/ Waiter
Banker
Jobs in this sector include
services that involve intellectual activity.
Jobs at the Quaternary level.
Mayor
Librarian
Teacher
Author

EXIT TICKET
Which Economic System Do You Favor and why?


In your notebook on the notes page write: "Economic Systems"!
Full transcript