Transcript Pro’s and Con’s of Economies

Pro’s and Con’s of
Economies
Seriously amazing stuff!!
Pro’s of Market Economy
 Leaders
are chosen based on performance.
 Individuals
decide what, how, when, etc.
over their own companies.
 Incentive
to work hard and be creative.
Con’s of Market Economy
 People
can be selfish and money hungry.
 Good
times can be really good, bad times
can be really bad. Individual is responsible
for the consequences.
 Voters
can be lazy and misinformed/not
informed.
Pro’s of Command Economy
 Everyone
 Less
is equal.
debating/arguing.
 Profit
(money) is invested in the
community.
Con’s for Command Economy
 Dictator
in power (government controls
everything).
 Doesn’t
 The
always work well in reality.
people have no voice or choice.
COMMAND vs MARKET ECONOMY
Command vs Market Economy?
1. McDonalds raises the price of
chicken nuggets because there
is suddenly a smaller supply of
chicken.
Command vs Market Economy?
2. Casey’s lowers the price of
their breakfast pizza because
customers complained the price
was too high.
Command vs Market Economy?
3. The government tells Best
Buy they can only have 250
iPhones in stock.
Command vs Market Economy?
4. Each city is only allowed to
have 1 Starbucks
Command vs Market Economy?
5. It is announced that Taco Bell
is the only restaurant allowed
to sell tacos.
Command vs Market Economy?
6. Mrs. Scott and Mr. Loneman
start their own company in
which they give singing lessons
and charge whatever they
want.
Command vs Market Economy?
7. The government orders
stores to sell Xbox’s for $150.
Command vs Market Economy?
8. Mrs. Brooks has an apple
orchard and grew 3 tons of apples,
the government took those apples,
and redistributed them equally
among all the 7th grade teachers.
Command vs Market Economy?
9. Your small business hit a
rough patch and you lost all of
your money. You have to close
the business and find a job
elsewhere.
Command vs Market Economy?
10. Ms. Thomas makes $20,000
per year, so does the heart
surgeon who lives down the
street from her.
Command vs Market Economy?
11. I go to Chapman’s Foods and
buy whatever groceries I want
to buy and have a large
selection from which to choose.
Command vs Market Economy?
12. I only make $20,000 per
year, but the teacher who lives
across the street from me won
the lottery and made 30 million
dollars in one day.
Command vs Market Economy?
13. Your small business hit a rough
patch and lost all of its money. The
government is subsidizing your
salary for now and may give you a
chance to get the business back on
its feet.
Command vs Market Economy?
14. Mrs. Carlson goes to the
grocery store and buys the same
goods as everyone else in the
store, because there really is no
other choice.
Command vs Market Economy?
15. Mrs. Rabe has a great idea
to improve computers. She is
going to call it “Rabesoft” and
will sell it to millions of people
and become one of the richest
people in the world.
Command vs Market Economy?
16. Mrs. Giblin also has a great
idea to improve computers. She
will call it “Gibsoft”. The
government will take her idea and
make sure that she receives the
same amount of money for her
work as everyone else.
Command vs Market Economy?
17. Mrs. Earlywine is a talented
basketball player (seriously, NBA
quality). She is going to go
professional and make millions
of dollars per year.
Command vs Market Economy?
18. Create one of your own.
Write it in the first column. Tell
whether it’s command or
nd
market in the 2 column. Give
yourself a point in the 3rd
column.