Economic Systems and Sectors

Some examples of jobs in the Tertiary Sector are Packaging Food, Sewing Clothes, Producing Honey

The Primary Sector extracts Natural Resources from the Earth

An example of a Traditional economy can be found in Inuit communities and Sami Indigenous groups.

In a Mixed Economy...

How many types of economic systems did we learn about?

Pick the correct job in the Quaternary Sector:

Some examples of jobs in the Primary Sector are Farming, Fishing, Mining.

In a Market Economy the government has very limited involvement in the economy.

The Secondary Sector is focused on knowledge attainment and sharing.

What is an Economy?

In a Command Economy, who makes all of the economic decisions?

United States and Singapore are examples of...

A Market Economy is driven by the needs and wants of the consumers. Prices are set by private companies based on S+D

The 4 Types of Economic Systems are: Traditional, Command, Market, Mixed

The 4 types of Economic Systems are: Traditional, Communism, Market, Mixed

How many Economic Sectors did we learn about?

An example of a Command Economy can be found in Canada and France.

What are the important features of a Traditional Economy?