2.1 Economic Systems and Decision Making
Unit 1 Lesson 4: Economic Systems
Lesson Objectives
By the end of this lesson, students should be able to:
- Describe the characteristics of the traditional, command, and market economics.
- Explain the advantages and disadvantages of the traditional, command, and market economics.
- Define economy, economic system, traditional economy, command economy, and market economy.
Reading Assignment
Read pages 33-40 in Economics: Principles & Practices. Complete the Guided Reading Activity (print it) as you read. Turn it in after you have completed it.