Classroom Activity to Accompany the Economic Systems Infographic

Economic Systems infographic

What is an economic system?

Every society must decide how to organize economic activity. This choice involves trade-offs. Economists have developed economic system models to help us understand the benefits and costs we face when choosing to organize our economy in a particular way. Although no country on earth adheres entirely to one economic system model, understanding the assumptions underlying a pure command system and a pure market system can clarify the choices.

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