# 1 Compare/Contrast Draw a chart characterizing the advantages and disadvantages of both a centrally planned economy and a free market economy. Use pages Draw a chart characterizing the advantages and disadvantages of both a centrally planned economy and a free market economy. Use pages Ex. A disadvantage of a free market economy is that some needs and wants are difficult to answer in a market place Ex. A disadvantage of a free market economy is that some needs and wants are difficult to answer in a market place Education Education Health care Health care National defense National defense Roads Roads

#2 Government Interference Pg. 41: What are some ways that governments intervene in the market place? Pg. 41: What are some ways that governments intervene in the market place? List at least 5 List at least 5

# 3 Global Connections Pg. 41. Read the paragraph that discusses Sweden’s Mixed Economy. Compare and Contrast Sweden’s and the United State’s Economy in 1 paragraph (3-5 sentences). Pg. 41. Read the paragraph that discusses Sweden’s Mixed Economy. Compare and Contrast Sweden’s and the United State’s Economy in 1 paragraph (3-5 sentences).

# 4 Background: Economics in History Read the passage on page 41. Read the passage on page 41. Write one paragraph that describes how Franklin D. Roosevelt helped to relieve the economic suffering of the Great Depression. Write one paragraph that describes how Franklin D. Roosevelt helped to relieve the economic suffering of the Great Depression.

# 5 Transferring Pg 43. Pg 43. Governments transfer money for various reasons to those who need it most. Governments transfer money for various reasons to those who need it most. What are some ways that our government transfers money? What are some ways that our government transfers money? List 3 List 3

# 6 Vocabulary In your own words describe: In your own words describe: Laissez faire Laissez faire Private Property Private Property Free Enterprise Free Enterprise Continuum Continuum Transition Transition Privatize Privatize Look up any words you are not familiar with. Look up any words you are not familiar with.

# 7 Compare/Contrast Economies North Korea / Hong Kong Pg 43. Figure 2.5 Pg 43. Figure 2.5 Describe the various levels of government intervention in each economy in a T-chart. Describe the various levels of government intervention in each economy in a T-chart.

# 8 Circular Flow Model of Mixed Economy Pg 42 Pg 42 Draw and label the model. Draw and label the model. Explain what is happening in this model. Explain what is happening in this model. Describe the various ways the government is involved in this model. Describe the various ways the government is involved in this model.

# 9 Government Provided Goods and Services Compile a list of some goods and services that government provides. Compile a list of some goods and services that government provides. How would your lives be different if the government did not provide these goods and services? How would your lives be different if the government did not provide these goods and services?