| A | B |
|---|
| Mixed Economy | United States economy which is a combination of free enterprise and command economies |
| Market Economy/Free Enterprise Characteristics #1 | #1 Private property ownership |
| Market Economy/Free Enterprise Characteristics #2 | #2 Freedom of enterprise and choice |
| Market Economy/Free Enterprise Characteristics #3 | #3 Motive of self-interest |
| Market Economy/Free Enterprise Characteristics #4 | #4 Competition |
| Market Economy/Free Enterprise Characteristics #5 | #5 System of markets and prices |
| Market Economy/Free Enterprise Characteristics #6 | #6 The market addresses consumer wants |
| Advantange #1 Free Enterprise/Market Economy | Advantage #1: Individuals can own businesses and resources |
| Advantange #2 Free Enterprise/Market Economy | Advantage #2: Individuals can buy and sell goods and services |
| Advantange #3 Free Enterprise/Market Economy | Advantage #3: Competition in the market leads to greater choices |
| Advantange #4 Free Enterprise/Market Economy | Advantage #4: Consumers play a great role in the economy |
| Disdvantange Free Enterprise/Market Economy | The critical role of the consumer in the marrket can create a tremendous divide between the poor and the wealthy. |
| Command Economy #1 | Command 1: There is limited government intervention through regulatory agencies |
| Command Economy #2 | Command 2: FDA protects the safety of foods and drugs sold in the marketplace |
| Command Economy #3 | Command 3: OSHA protects the safety of workers in the workplace |
| Command Economy the government provides some services to take care of people's needs #A | #A: Highways (Interstate highway system) |
| Command Economy the government provides some services to take care of people's needs #B | #B: Public education, including such programs as CTE and Title I |
| Command Economy the government provides some services to take care of people's needs #C | #C: Social Security, Medicare, etc. |
| Command Economy the government provides some services to take care of people's needs #D | #D: Defense and public safety |
| Advantage Command Economy the government provides some services to take care of people's needs #E | #E: Consumers have some degree of protection in the marketplace |
| Advantage Command Economy the government provides some services to take care of people's needs #F | #F: Essential services are provided for citizens |
| Disadvantage Command Economy the government provides some services to take care of people's needs #G | #G: Citizens have to pay taxes so the government can provide services. |
| Disadvantage Command Economy the government provides some services to take care of people's needs #H | #H: Some businesspeople and consumers think there is too much government control in the marketplace |
