What are the 4 Major Economic Systems
What are the 4 Major Economic Systems?
Depending on what country a business is located in will have an impact of external factors like government involvement in peoples business. This lesson will introduce the four major economic systems and what makes them each different.
Identify the 4 Major Economic Systems
Identify and discuss the advantages and disadvantages of each system
Discuss the opportunities and challenges of doing business in domestic and global environments
Describe and discuss a type of business that could work in each system
1) What are the 4 major economic systems? Identify and discuss the advantages and disadvantages of each system.
2) How do different economic systems impact doing business in domestic and global environments?
Small Group Activity:
Discuss and brainstorm a business idea that your group believes would work in each economic system.
Present your idea to the class and make a case for why it would work.