{"id":198,"date":"2015-04-20T20:27:59","date_gmt":"2015-04-20T20:27:59","guid":{"rendered":"https:\/\/courses.candelalearning.com\/masterybusiness1xngcxmaster\/?post_type=chapter&#038;p=198"},"modified":"2015-07-11T23:00:01","modified_gmt":"2015-07-11T23:00:01","slug":"economic-systems","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/chapter\/economic-systems\/","title":{"raw":"Outcome: Economic Systems","rendered":"Outcome: Economic Systems"},"content":{"raw":"<h2>What you\u2019ll learn to do:\u00a0compare and contrast different economic systems (capitalist, planned, and mixed)<\/h2>\r\nIf you were born and raised in the United States, then the only economic system you have lived within is a capitalist or free market system. However, just as\u00a0there are differences in culture, politics, religions, and languages around the world, economic systems vary from place\u00a0to place. Which\u00a0economic system a country adopts is the result of complex historical, political, and social factors that play\u00a0out over time. Each system has its supporters and its critics, but as a student of economics it's important for you to have a basic\u00a0understanding of the three most common types:\u00a0capitalist or free market economies, planned (sometimes called\u00a0\"command\") economies, and mixed economies, which have the characteristics of two or more\u00a0types.\r\n\r\n<h3>LEARNING ACTIVITIES<\/h3>\r\nThe learning activities for this section include:\r\n<ul>\r\n\t<li>Reading: How Economies Can Be Organized<\/li>\r\n\t<li>Reading: Control of Economic Decisions<\/li>\r\n\t<li>Self Check: Economic Systems<\/li>\r\n<\/ul>\r\n\r\nTake time to review and reflect on this activity\u00a0in order to improve your performance on the assessment for this section.","rendered":"<h2>What you\u2019ll learn to do:\u00a0compare and contrast different economic systems (capitalist, planned, and mixed)<\/h2>\n<p>If you were born and raised in the United States, then the only economic system you have lived within is a capitalist or free market system. However, just as\u00a0there are differences in culture, politics, religions, and languages around the world, economic systems vary from place\u00a0to place. Which\u00a0economic system a country adopts is the result of complex historical, political, and social factors that play\u00a0out over time. Each system has its supporters and its critics, but as a student of economics it&#8217;s important for you to have a basic\u00a0understanding of the three most common types:\u00a0capitalist or free market economies, planned (sometimes called\u00a0&#8220;command&#8221;) economies, and mixed economies, which have the characteristics of two or more\u00a0types.<\/p>\n<h3>LEARNING ACTIVITIES<\/h3>\n<p>The learning activities for this section include:<\/p>\n<ul>\n<li>Reading: How Economies Can Be Organized<\/li>\n<li>Reading: Control of Economic Decisions<\/li>\n<li>Self Check: Economic Systems<\/li>\n<\/ul>\n<p>Take time to review and reflect on this activity\u00a0in order to improve your performance on the assessment for this section.<\/p>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-198\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li><strong>Authored by<\/strong>: Linda Williams and Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":78,"menu_order":15,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"\",\"author\":\"Linda Williams and Lumen Learning\",\"organization\":\"\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"75d45e19-6de9-4f50-a52d-5bb40456cde9","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-198","chapter","type-chapter","status-publish","hentry"],"part":81,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/chapters\/198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/wp\/v2\/users\/78"}],"version-history":[{"count":14,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/chapters\/198\/revisions"}],"predecessor-version":[{"id":5042,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/chapters\/198\/revisions\/5042"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/parts\/81"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/chapters\/198\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/wp\/v2\/media?parent=198"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/chapter-type?post=198"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/wp\/v2\/contributor?post=198"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/wp\/v2\/license?post=198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}