Intro to Business: Economic Systems Lesson

🎓 Intro to Business: Economic Systems | Full Lecture Video (Unit 14)
Welcome to Kloeker’s Education Foundation, where we provide quality content for amazing teachers. In this video, we explore the four major types of economic systems—traditional, command (communist and socialist), and market—and how each system answers the three fundamental economic questions.

🧠 What You’ll Learn in This Lesson:

What an economic system is and why every country must have one

Key elements shared by all economies: markets, participants, resources, and exchange

Deep dive into the 4 systems:
• Traditional – Rooted in customs, with no surplus or innovation
• Communist Command – Full government control over production and distribution
• Socialist Command – Shared ownership with higher taxes and public services
• Market – Individual freedom, private ownership, and profit motive

How each system answers:
• What to produce?
• How to produce?
• Who gets the products?

Strengths and weaknesses of each system: fairness, innovation, efficiency, and control

Real-world examples: Cuba, Sweden, the U.S., North Korea, Amazonian tribes

Gray Zone ethical reflection: Should modern governments influence or replace traditional economic cultures?

📥 Companion materials available:
PowerPoint, teacher lecture notes, activities, handouts, and assessments can be found in the
👉 Intro to Business: Economic Systems Unit 14 Bundle on TeachersPayTeachers

🔗 Link to PowerPoint:
https://www.teacherspayteachers.com/Product/Intro-to-Business-Types-of-Economic-Systems-PowerPoint-13717533

🔗 Link to Unit:
https://www.teacherspayteachers.com/Product/Intro-to-Business-Economic-Systems-Unit-14-Bundle-13717575

🔗 Link to Store:
https://www.teacherspayteachers.com/store/kloekers-education-foundation

📌 Ideal for high school business or CTE students, this lecture aligns with TEKS and national business education standards.

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