1. Good Morning
SPONGE
Out of the following countries, which do you think has the strongest economy? Explain. UK, Germany, Russia

2. Comparing the Economies of the UK, Germany and Russia

3. United Kingdom Private citizens and corporations:
Own businesses and farms
Decide what to produce and how much to produce
Decide how goods and services will be produced
Decides distribution methods and prices for goods and services

4. United Kingdom
Buyers and sellers decide prices for goods and services based on supply and demand.
Supply: the amount of goods available to people
Demand: the desire for a product
If something is in high demand, companies can sell it for a higher price.

5. United Kingdom
Laws and a good court system protect people’s property rights
It is very easy to start your own business

6. The economic system in the UK is more like a ___________________.
Command economic system
Traditional economic system
Market economic system
Unitary economic system

7. Germany
Private citizens and corporations own businesses and farms

8. Germany Private citizens and corporations with gov’t regulations:
Decide what to produce and how much to produce
Decide how goods and services will be produced
Decides distribution methods and prices for goods and services

9. Germany
Private citizens and corporations decide prices for goods and services with some gov’t regulations
Laws and a good court system protect people’s property rights
It is very easy to start your own business in Germany

10. Some government influence No government influence
In Germany, private citizens answer most of the economic questions with ______________.
Some government influence
No government influence
All government influence

11. Russia
The government owns some large industries (oil, natural gas, aerospace, etc)
Private citizens are allowed to own businesses in other areas

12. Russia Private citizens with heavy government regulations:
Decide what to produce and how much to produce
Decide how goods and services will be produced
Decides distribution methods and prices for goods and services

13. Russia
Private citizens and corporations decide the prices for goods and services with some government regulations
The court system does not always protect the rights of property owners
It is difficult and time consuming to start a business in Russia

14. In Russia, there is ____________ (of) government regulations on the economic system.
Little No
A lot
All