Slide 1Unit 1: Basic Economic Concepts 1 Slide 2 Scarcity Means There Is Not Enough For Everyone Government must step in to help allocate (distribute) resources 2 Slide 3…

Slide 1Scarcity Means There Is Not Enough For Everyone Government must step in to help allocate (distribute) resources 1 Slide 2 Scarcity Bus Ride S cenario: A group of 40…

Slide 1 Unit 1: Basic Economic Concepts 1 Slide 2 Scarcity Means There Is Not Enough For Everyone Government must step in to help allocate (distribute) resources 2 Slide…

AP Economics SSEF4a â Compare command, market, and mixed economic systems with regard to private ownership, profit motive, consumer sovereignty, competition, and government…

Economic Systems The Rules and Incentives in an Economy Traditional Economy Families, clans, or tribes take care of production and distribution by following the customs that…

Slide 1 Economic Systems Slide 2 1.Centrally-Planned (Command) Economy 2.Free Market Economy 3.Mixed Economy 2 Slide 3 Centrally-Planned Economies (aka Communism) 3 Slide…

Economic Systems * Scarcity Means There Is Not Enough For Everyone Government must step in to help allocate (distribute) resources * Scarcity Bus Ride Scenario: A group of…