Economic Systems Review!

Nemo could buy a new sea-phone because the taxes were low. BUT he didn't have any money left for his hospital bills.

Bugs Bunny was selling carrots at a stand, and had to raise the prices because taxes were so high.

Charles buys a ticket with a really high tax. At the movie he falls and gets hurt, but the government pays the bill.

Which type of economic system has low taxes?

Luke wants to upgrade his lightsaber. He has many options to choose from. They are cheap because the taxes are low.

Elsa discovers oil in her backyard. Instead of getting rich, the government takes over and makes her let it go.

What is it called when the government provides something, or when it pays for something? (hospitals, college, etc)

Farmer Fran is told that she has to produce X number of gallons of milk each year by the government.

What is it called when we have to pay money to the government, either from our paycheck, our purchases, or our property?

The Hulk was practicing with Thor and he accidentally got hurt. He had to pay the hospital bill himself.

Gandalf lost his wizard staff and needs a new one. Since his taxes are high, he does not have as much money to buy one.

Which type of economic system has high services, but they are poor quality?

Maui got into a huge fight with Te Fiti and had to go to the hospital. He waited a long time, and it was very dirty.

Which type of system has high taxes, but also provides a lot of good services?

Jake (before State Farm) wants to go to college, but he can't afford it. Luckily, the government paid so that he can go.