Business and Financial

Literacy 9
 1
Prayer
 2

Attendance
 Workplan

Review of the Basic

1 Prayer 3 Concepts

Lesson Proper
2 Attendance 4 ● https://moodle.southvil
le.edu.ph/course/view.p
hp?id=11732#section-2
 3

Review on Basic Concepts

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 4

Lesson Proper
 BIG IDEA
WE HAVE TO MANAGE OUR LIVES
WITH SYSTEMS. Systems make us more
efficient. They multiply our efforts, and
allow our focus to remain whole, not
fragmented.
 ESSENTIAL
QUESTIONS
● Why is it important to have a system?
● What would happen to life in general if
there are no systems?
● If you were the leader of your country,
which economic system will you
implement? Why?
ECONOMIC
SYSTEMS
 ● An economic system is a METHOD by which societies or
governments organize and distribute available resources,
services, and goods across a geographic region or country.
● Economic systems regulate factors of production, including
capital, labor, physical resources, and entrepreneurs. An
economic system encompasses many institutions, agencies, and
other entities.
Types of Economic
Systems
 Types of Economic Systems

Market Economy Command Economy

Individuals own and Government owns and

operate the factors of operates the factors of
production. production.
 Types of Economic Systems

Traditional Economy Mixed Economy

Based on customs and Has features of both

traditions. market and command
economies.
Socialist or Communist Countries

● China
● Cuba
● Laos
● North Korea
● Vietnam
Mixed Economy Countries
● Iceland - 57%
● Sweden - 52%
● France - 52.8%
● U.K. - 47.3%
● U.S. - 38.9%
● Russia - 34.1%
● India - 27%
● Hong Kong - 18.6%
Traditional Economy Countries
● Bhutan
● Haiti
 ESSENTIAL
QUESTIONS
● Why is it important to have a system?
● What would happen to life in general if
there are no systems?
● If you were the leader of your country,
which economic system will you
implement? Why?
 Thanks!
Do you have any questions?
april_delizo@southville.edu.ph

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