Guided Reading Activity Economic Systems Lesson 2 Answer Key The key questions answered by all economic systems are What and how much is to be produced How are these goods and services produced Who gets the goods and services that are produced Economic systems classified by how they work are identified as traditional market or command II Capitalism
Guided Reading Activities provide you with resources to help students focus on the key infor mation and concepts in each chapter of Economics Today and Tomorrow The reproducible activities follow the outlines of each section in the chapter Answers to the Guided Reading Activity questions are in the back of the booklet Main Idea Even though there are several different kinds of economies there are more mixed economies economic systems where tradition government and markets each answer some of the WHAT HOW and FOR WHOM questions than any other kind
Guided Reading Activity Economic Systems Lesson 2 Answer Key
Guided Reading Activity Economic Systems Lesson 2 Answer Key
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Economic Systems Guided Reading Activity Review Questions Directions Read each main idea and answer the questions below Refer to your textbook as you write the answers A Main Idea Societies do not have enough productive resources to satisfy everyone s wants and needs 1 Explain the difference between a want and a need 2
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Guided Reading Activity Economic Systems Lesson 2 Answer Key
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NAME DATE CLASS jordan kirk Guided Reading Activity netw rks The Age of Exploration Lesson 2 The First Global Economic Systems Review Questions Directions Read the lesson and complete the outline below and this growth was a key step in the development of a world economy B According to the theory of
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Lesson 2 The First Global Economic Systems 4 5 21 reviews expansion economy Click the card to flip European colonial helped produce a great increase in European trade and this growth was a key step in the development of a world
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Guided Reading Activity Economic Systems and Decision Making Lesson 2 Mixed Economies Review Questions Directions Read each main idea answer the questions or respond to the statements below Refer to your textbook as you write the answers
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Terms in this set 20 Define economic system an organized way of providing for the wants and needs of its people command economy the government answers the 3 economic questions Traditional Economy the allocation of scarce resources and nearly all other economic activity market economy people make
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1 What three basic economic questions must be answered by every society a b c 2 Five main economic goals help a society choose its economic system What are they 3 Give an example of two economic goals conflicting with each other 4 What are two characteristics of a traditional economy
Chapter Overviews Economic systems help societies provide for the wants and needs of their people This chapter deals with the main types of economic systems the way in which the performance of economic systems can be evaluated along with the nature of capitalism and free enterprise Section 1 introduces the three systems traditional Lesson 2 The House of Representatives Guided Reading Activity Answer Key A Main Idea 1 rules day 2 committees constituents 3 majority committees B Main Idea 1 Speaker of the House 2 majority leader 3 whip whips 4 parallel schedule C Main Idea 1 Speaker of the House committee 2 Rules Committee committees 3 218 Committee of
Guided Reading Activity cont Economic Systems and Decision Making 4 Name the significant disadvantages to a market economy Summary and Reflection Directions Summarize the main ideas of this lesson by answering the questions below Compare and contrast two of the three economic systems discussed in this lesson Consider how each