2. Human Geography Geography based on man-made creations.

3. Table of Contents DateTitleLesson # ***Human Geography*** 9/16Cover Page10 9/16Political Systems11 9/18Economics12 9/21Economic Systems13 1. Draw a line underneath your Economics page. 2. Write the title “Economic Systems”

4. Intro Definitions Economics  how a country produces and exchanges goods and services. Economic Systems – the two modern choices for running a country’s economy.

5. Economic Systems: Market Economy Command Economy Economic Systems Market Econom y Command Economy Directions: - Turn to the next page - Turn your notebook sideways - Create this web

6. Step 1 – Use p. 91 to add a bubble to your web that explains Market Economy. Economic Systems Market Econom y Command Economy 1. Explanation

7. Step 2 – Add 2 bubbles to your web, one for characteristics and one for summary. Economic Systems Market Econom y Command Economy 1. Explanation3. Characteristics2. Summary Hint: Make the characteristics bubble big, there are 6 of them

8. Free Market Economy Summary  Production is controlled by the DEMAND of CONSUMERS. Characteristics 1. People can choose jobs 2. Many rich people but many poor people Skill - Welding Business College

9. Market Economy Sales Analysis Goods 1.HW Pass 2.Project Pass and Test Pass 3.Get out of notebook checks for one year Questions (answer below your intro notes on the first Market Economy page) A. Which good had the highest demand? B. In a Market Economy, which good should I (Mr. Orso) produce more of to sell tomorrow? C. Could you have purchased any good you wanted? D. If you were unable to make a purchase, why didn’t you?

10. Free Market Economy Characteristics (continued) 3. Supply and Demand – consumer demand guides economy 4. Freedom to purchase what you want 5. Many product choices 6. Economic competition Task: - Put a positive (+) symbol by each characteristic that you think is positive. - Put a negative (-) symbol by each characteristic that you think is negative.

11. Economic Competition – Price is Right A G FED CB H

12. Economic Competition Demand causes a variety of products. Demand causes a variety of producers. –Like Nike, Addidas, New Balance, Reebok, Puma, etc. Bottom Line  The better your product  the higher the demand  the more successful you are $$