Economic Systems and Economic Activities DiagramKEY

Directions: Complete the chart (diagram) below. Define each type of economic systems. Provide other names these systems may be called, explain how government may be involved, and list example countries or places.

Economic System / Other names / Definition / Government Involvement / Examples
Traditional / This economic system is based on hunter-gather or subsistence agriculture. The economic activities are either done by an individual or group of individuals. Food produced is only enough for their family or family group (clan, tribe, etc.) There is little or no extra food produced to sell to other groups. / Little or no; governed by their family group (clan, tribe, etc.). This type of economic system is typically regional within a country. / Areas in many African nations, Latin America, Mongolia, etc.
Free Enterprise / Capitalism
Market Economy / This economic system is based on private ownership of business and individual decisions on what to buy or sell. / Very little government involvement. (Note: Most countries have some type of limited regulations for the protection of its citizens.) This is usually present in more democratic countries. / United States
Command Economy / Communism / This economic system is based government control of businesses and decisions regarding types and locations of economic activity and production. Citizens can be assigned or strongly encouraged into various employment. There is little or no private ownership of businesses. / Strict government control usually through a dictatorship, monarch, or theocracy. / China, Cuba
Mixed Economy / Socialism / This economic system forms the array between free enterprise (capitalism) and command economies (communism) with some private ownership and some government control of businesses. / Government involvement may range from some to a lot. This type of economic system is present in some democratic countries. / Canada, most European countries

Economic Systems and Economic Activities DiagramKEY

Directions: Complete the chart below to define economic activitiesand include examples of the types of jobs or work for each activity category. Provide examples for each economic activity that illustrates instances of globalization. Finally, label the arrow at the bottom of the chart to show the array from less developed to more developed countries.

Economic Activity / Primary / Secondary / Tertiary / Quaternary / Quinary
Definition / Economic activities that extracts natural resources or harvests goods directly with no processing or manufacturing. / Manufacturing or processing raw materials. / Providing a service. / Researching, collecting, recoding, storage, exchange, and disseminationof information and data. Services for producers. / Highest level of decision makers and management for businesses and organizations.
Note: This definition varies among scholars.
Examples / Agriculture (subsistence & commercial/ plantation), mining, logging, oil drilling, hunting, etc. / Food processing, manufacturing: Timber, paper, cloth, clothes, etc. / Selling goods (Ex. clothes, paper, shoes, etc.), manicures, haircut, education, health care, banking, etc. / Information technology, research centers, education, banking, legal services, etc. / CEOs for international corporations
Possible Globalization Examples / Bananas from Latin America in the U.S. / Reeboks made in East Asia, Walmart products made in developing countries / Computer services in India. / Green Revolution in India; World health groups influence on disease like Ebola or AIDS (Africa). / Banana Republics and government policies.
More developed countries diversity their economies and include a number of types of economic activity. /
______
Label the arrow: Show the change in the level of development of a country with the addition of other types of economic activities.

©2012, TESCCC05/07/12page 1 of 2