Name Date

Comparative Economic Systems

Economic Systems: What would life be like in the North Korean economy?
The institutional
framework of formal and How would things be different in the economy of Chad?
informal rules that a
society uses to determine Why is Liechtenstein so wealthy?
what to produce, how to
produce and how to In this lesson, you will have the opportunity to compare these
distribute goods and three economies to the U.S. economy, and you’ll practice using
services. some tools that can help you to study any economy in the world.

1. Complete the data worksheet by using the CIA World Factbook at

https://www.cia.gov/library/publications/the-world-factbook/index.html
 If you copy and paste answers – format text appropriately to ensure readability on final copy
 (suggested 8 pt. Arial font)

2. Answer the seven reflection questions after gathering the data.

3. Complete the assignment online and post to your weebly website

Data Worksheet
United States North Korea Chad Liechtenstein

Geography
Natural Resources – How
many and what types of
natural resources are
available?
Land Use – What percentage
of the land is arable (capable
of being farmed)?
coal, copper, lead,
molybdenum, phosphates,
uranium, bauxite, gold, iron,
mercury, nickel, potash, silver,
tungsten, zinc, petroleum,
natural gas, timber
note: the US has the world's
largest coal reserves with 491
billion short tons accounting
for 27% of the world's total
arable land: 18.01%
permanent crops: 0.21%
other: 81.78% (2005)
Coal, lead, tungsten, zinc, cotton, sorghum, hydroelectric
magnesite, iron, copper, millet, peanuts, rice, potential, arable land
gold, pyrites, salt, potatoes, manioc
fluorspar, hydro power (tapioca); cattle,
sheep, goats, camels
Arable land: 19% arable land: 3.82% arable land: 21.88%
Permenent crops: 1.7
permanent crops: 0.02% permanent crops: 0%
Other: 79.22
other: 96.16% (2011) other: 78.12% (2011)
Name
People
Life Expectancy at Birth – How
long are children born today
expected to live?
Total Fertility Rate – How
many children does each
woman have, on average?
Literacy Rate – What % of
people over the age of 15 can
read and write?
Government
Government Type –How are
leaders elected?
Government Spending as
Percent of GDP (Budget
Expenditures Divided by GDP).
Find in Economy section
Military Spending as a
Percentage of GDP. Find in
Military section
Economy
Economy Overview – What are
the most serious economic
problems facing each of these
four nations? Summarize from
Economic Overview
GDP Per Capita – What is the
value of goods and services
produced per person?
Population Below Poverty Line
– How many people live in
poverty?
GDP Composition by Sector –
What % of GDP is industry and
services?
total population: 78.11
years
country comparison to the
world: 49
male: 75.65 years
female: 80.69 years (2009
est.)
2.05 children born/woman
(2009 est.)
country comparison to the
world: 126
definition: age 15 and over
can read and write
total population: 99%
male: 99%
female: 99% (2003 est.)
Constitution-based federal
republic; strong democratic
tradition
GDP (PPP): $14.26 trillion
(2009 est.)
Budget: revenues: $1.914
trillion
expenditures: $3.615
trillion (2009 est.)
$3.615 trillion / $14.26
trillion = .25 (25%)
4.06% of GDP (2005 est.)
country comparison to the
world: 28
Long-term problems
include inadequate
investment in economic
infrastructure, rapidly
rising medical and pension
costs of an aging
population, sizable trade
and budget deficits, and
stagnation of family
income in the lower
economic groups.
$46,400 (2009 est.)
country comparison to the
world: 11
12% (2004 est.)
agriculture: 1.2%
industry: 21.9%
services: 76.9% (2009 est.)
Date
Total: 69.51 50
1.99 4.8 children
born/woman (2013
est.)
Age 15 and over 15 and over- 35.4% of total
100% can read and write population
Communist one man Republic-vote?
dictatorship
40 billion $21 billion (2012 est.)
country comparison to the
world: 1 2 9
$19.99 billion (2011
est.)
$19.89 billion (2010
est.)
NA 5% (2012 est.)
country comparison to the
world: 6 4
0.5% (2011 est.)
13% (2010 est.)
North Korea has a Chad's primarily
struggling economy, agricultural economy
shortages of crops and fuel, will continue to be
they receive much aid from boosted by major
China. 11 billion in debt foreign direct
with Russia. Kim Jong investment projects in
working on economy. the oil sector that
began in 2000.
$1800 $2,000 (2012 est.)
country comparison to the
world: 1 9 4
$1,900 (2011 est.)
$1,900 (2010 est.)
NA 80%
Agriculture: 23.3 agriculture: 47.1%
Industry: 42.9
industry: 9.2%
Services: 33.8
services: 43.7% (2012
total population: 81.59
years
country comparison to the
world: 1 2
male: 79.45 years
female: 84.29 years
(2013 est.)
1.69 children
born/woman (2013
est.)
country comparison to the
world: 1 7 1
100%
Hereditary constitutional
monarchy
$3.2 billion (2009)
country comparison to the
world: 1 7 9
$3.216 billion (2008)
$3.159 billion (2007
No military- national police
Highly industrialized, free
enterprise economy,
second highest capita
income in the world. 20%
tax rate
$89,400 (2009 est.)
country comparison to the
world: 2
$90,600 (2008 est.)
$89,700 (2007 est.)
NA
agriculture: 8%
industry: 37%
services: 55% (2009)
Name
Labor Force by Occupation –
What
% of workers is in agriculture?
Industries – What are the
primary
industries?
Are the industries primarily
producing for consumer or
government consumption?
Determine this by assessing
the industries and their
consumers – answer not
found at CIA WorldFactBook
Agriculture Products – What
are the primary agricultural
goods produced?
Industrial Production Growth
Rate
Electricity Production
Communications
Telephones – Main Lines in
Use
Internet Users
Transportation
Railways
Roadways (Paved and
Unpaved Highways
Airports with Paved Runways
Reflection:
farming, forestry, and
fishing: 0.7%
leading industrial power in
the world, highly
diversified and
technologically advanced;
petroleum, steel, motor
vehicles, aerospace,
telecommunications,
chemicals, electronics, food
processing, consumer
goods, lumber, mining
Mostly producing for the
consumer (private citizens)
wheat, corn, other grains,
fruits, vegetables, cotton;
beef, pork, poultry, dairy
products; fish; forest
products
-5.5% (2009 est.)
country comparison to the
world: 110
4.11 trillion kWh (2008
est.)
country comparison to the
world: 1
150 million (2008)
country comparison to the
world: 2
231 million (2008)
country comparison to the
world: 2
total: 226,427 km
country comparison to the
world: 1
total: 6,465,799 km
country comparison to the
world: 1
paved: 4,209,835 km
(includes 75,040 km of
expressways)
unpaved: 2,255,964 km
(2007)
total: 5,174
Date
est.)
Agriculture: 35% 4.293 Million agriculture: 0.8%
Industry: 65%
industry: 39.4%
services: 59.9% (2010)
military products; oil, cotton textiles, electronics, metal
machine building, meatpacking, brewing, manufacturing, dental
electric power, natron (sodium products, ceramics,
chemicals; mining carbonate), soap, pharmaceuticals, food
(coal, iron ore, cigarettes, products, precision
limestone, magnesite, construction materials instruments, tourism,
graphite, copper, zinc, optical instruments
lead, and precious
metals), metallurgy;
textiles, food
processing; tourism
Government consumption The people produce for
because since they are a themselves a lot. It’s
communist gov’t nothing sounds like they are getting
goes through to the people away from traditional living
without going through the and going into
gov’t
rice, corn, potatoes, cotton, sorghum, wheat, barley, corn,
soybeans, pulses; millet, peanuts, rice, potatoes; livestock,
cattle, pigs, pork, eggs potatoes, manioc dairy products
(tapioca); cattle,
sheep, goats, camels
NA 10.6% NA
20.45 billion kWh 95 million na
1.18 million 31, 200 19600
NA 23,000
5,242 NA 9 km
total: 25,554 km total: 40,000 km total: 380 km
country comparison to the country comparison to country comparison to the
world: 1 0 1 the world: 8 8 world: 2 0 1
paved: 724 km note: consists of paved: 380 km (2010)
unpaved: 24,830 km 25,000 km of national
(2006) and regional roads
and 15,000 km of
local roads; 206 km of
urban roads are paved
(2011)
39 Na na
Name Date

1. How can the presence or absence of natural resources and arable land affect a
nation’s economy, regardless of the type of economic system?
Well, if a country has a natural resource it can create jobs for people, because you need someone to
extract it and since its already existing in that country they don’t have to pay anything for it, just the price of
managing and extracting it then from there out its all profit.

2. How can life expectancy and literacy rates affect the quality of labor in the economy?
If you have educated and literate workers there is a way less chance of injury on the job site and you can
have people work for longer periods of there life because they have longer life expectancy.

3. How can fertility rates affect the use of scarce resources?

With more and more kids being brought into the world they need stuff as well as everyone else so that
resource is being used that much more.

4. How can GDP per capita and poverty rates indicate standards of living in each system?
If the GDP per capita is high and the poverty rates are low you can indicate a good healthy standard of
living where people have proper health care and housing for all. If the GDP per capita is low and poverty
rates are high you can indicate that the people there are rather poor and this could lead to lack of health
care and sick people thus a low life expectancy.

5. How can the size of the industrial/service sector and the agriculture employment rate indicate the
level of industrialization?
The size of the industrial/service sector and the agriculture can indicate how industrialized a country is.

6. How can electricity, communication, and transportation facilities indicate the potential
for industrial growth?
If a country has a sufficient electricity, sources of communication and transportation facilities then they have
maximum potential for industrial growth.
Name Date

7. Considering the lack of natural resources, the labor problems, and the lack of capital and little
industrialization of developing countries, how can developing countries develop? (Hint: Look at
Economy - Overview for Chad).
Developing countries such as Chad can continue to gain profit on their oil sales, then continue to develop
their gov’t then set up programs to get people the health care they need and put people back into work
there and out of poverty.

8. Now that you have studied the economic characteristics of these three countries, define the terms
market-oriented, command, and developing economy in your own words. For each term, describe the
specific characteristics of the countries you studied that would help to support your definition.
The US and Liechtenstein are developed countries with developed economies. Liechtenstein claimed to be
a market oriented economy and the US is a mixed economy. Chad is a developing country they are just
getting oil fields extracted and starting to make their economy sufficient.