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Comparing the Basic Economic Systems in the United Kingdom, Germany and Russia SS6E5c- Compare the basic types of economic systems found in the United.

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Presentation on theme: "Comparing the Basic Economic Systems in the United Kingdom, Germany and Russia SS6E5c- Compare the basic types of economic systems found in the United."— Presentation transcript:

1 Comparing the Basic Economic Systems in the United Kingdom, Germany and Russia
SS6E5c- Compare the basic types of economic systems found in the United kingdom, Germany and Russia

2 Who owns the businesses?
United Kingdom- private citizens and corporations Germany- private citizens and corporations Russia- government owns large industries such as shipping, oil and natural gas; private ownership is allowed in other areas

3 Thoughts to ponder… Why do you think Russia’s government controls many of the large industries?

4 Who decides what and how much to produce?
United Kingdom- private citizens and corporations Germany- private citizens and corporations; some regulations by government in farming and energy Russia- private citizens and corporations for the most part; government has many restrictions on business and controls many of the large businesses

5 Thoughts to ponder… Why do you think Germany’s government regulates some aspects of farming and energy production?

6 Who decides how to produce the goods?
United Kingdom- private citizens and corporations Germany- private citizens and corporations; some regulations by government in farming and energy Russia- private citizens and corporations for the most part; government has many restrictions on business and controls many of the large businesses

7 Thoughts to ponder… Since the UK gives its citizens so much freedom to produce goods, where would it fall on the continuum line?

8 Who decides distribution methods?
United Kingdom- private citizens and corporations Germany- private citizens and corporations; some regulations by government in farming and energy Russia- private citizens and corporations for the most part; government has many restrictions on business and controls many of the large businesses

9 Thoughts to ponder… Why would Russia’s government restrict how a company distributes their goods?

10 Who decides prices? United Kingdom- buyers and sellers; based on supply and demand Germany- private citizens and corporations; the government regulates prices of some products Russia- private citizens and corporations; the government regulates prices of some products

11 What is supply? What is demand?
Thoughts to ponder… What is supply? What is demand?

12 How are property rights protected?
United Kingdom- laws and a good court system protect people’s property rights Germany- laws and a good court system protect people’s property rights Russia- court system doesn’t always protect the rights of property owners

13 Thoughts to ponder… Why do you think Russia’s government doesn’t always protect citizens property rights?

14 How difficult is it to start your own business?
United Kingdom- very easy (days) Germany- very easy (days) Russia- time-consuming (months)

15 What country would you most want to start your own business in? Why?
Thoughts to ponder… What country would you most want to start your own business in? Why?

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