Draw a chart characterizing the advantages and disadvantages of both a centrally planned economy and a free market economy. Use pages 29-44

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1

• Draw a chart characterizing the advantages and
  disadvantages of both a centrally planned economy
  and a free market economy. Use pages 29-44
• Ex. A disadvantage of a free market economy is
  that some needs and wants are difficult to answer
  in a market place
• Education
• Health care
• National defense
• Roads

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2 Government Interference

• Pg. 41 What are some ways that governments
  intervene in the market place?
• List at least 5

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3 Global Connections

• Pg. 41. Read the paragraph that discusses
  Swedens Mixed Economy. Compare and Contrast
  Swedens and the United States Economy in 1
  paragraph (3-5 sentences).

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4 Background Economics in History

• Read the passage on page 41.
• Write one paragraph that describes how Franklin
  D. Roosevelt helped to relieve the economic
  suffering of the Great Depression.

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5 Transferring

• Pg 43.
• Governments transfer money for various reasons to
  those who need it most.
• What are some ways that our government transfers
  money?
• List 3

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6 Vocabulary

• In your own words describe
• Laissez faire
• Private Property
• Free Enterprise
• Continuum
• Transition
• Privatize
• Look up any words you are not familiar with.

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7 Compare/Contrast EconomiesNorth Korea / Hong
Kong

• Pg 43. Figure 2.5
• Describe the various levels of government
  intervention in each economy in a T-chart.

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8 Government Provided Goods and Services

• Compile a list of some goods and services that
  government provides.
• How would your lives be different if the
  government did not provide these goods and
  services?
• What is the largest expenditure made by the
  government? Pg. 44

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Vocabulary Definitions

• Private Property Rights
• Free Contract
• Voluntary Exchange
• Competition
• Interest Group
• Public Disclosure Laws
• Public Interest
• Free Rider