be wk3 lsbm sep 13
TRANSCRIPT
Business Environment
Photo Credit: http://www.enerpro.eu.com
Week 3
Economic Systems
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Learning Outcome
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Today’s Lesson Plan
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Economics ?
Q&A : 5 mins
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Economics is concerned with the economic system through which societies attempt to meet people’s material needs and wants through the
production of goods and services.
Photo Credit: nytimes.com
Economics is concerned with the economic
system through which societies attempt to
meet people’s material needs and wants
through the production of goods and services.
Bus Env WK3 Dr Shohail Choudhury 6 Photo Credit: 3.bp.blogspot.com
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Photo Credit: www.openideo.com
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What is Scarcity?
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PROBLEMS
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Photo Credit: boagworld.com
What goods and services should be
produced and in what quantities?
How should these be produced?
For whom should these be produced?
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The allocation of Resources
Capital Housing Crisis: Video: 4.21 mins
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Different types of Economic Systems
Economic Systems: Video: 2.17 mins
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Activity: Group: 15 mins (Advanced Notice)
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Out of the three economic systems which system do you think is the
most appropriate?
Support your answer with evidence.
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Free Market Economy
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Free Market Economy: Video: 4.57 mins.
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Free Market Economy
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Command Economy
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Cuba: An Example : Video: 6.53 mins.
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Command Economy
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North Korea: An Example : Video: 6.53 mins.
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Command Economy
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Mixed Economy •
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Mixed Economy
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Economies in transition
• Superior performance of market economies influenced the collapse of communist governments in Soviet Union and Eastern Europe in 1989.
• Transition Economies. From Central Planning to market systems.
• Requires fundamental reform of the economic system.
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Economies in transition
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Economies in Transition: Eastern Europe: Video: 4.26 mins.
Activity: Group: 15 mins (starts now)
Out of the three economic systems which system do you think is the most appropriate?
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Public Policies and
Business Organisations in UK
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Government Policy
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State Influence over economic activity
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Born Bankrupt: State of UK Economy
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Inflation
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Causes of Inflation
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Demand Pull Inflation
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Cost Push Inflation
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Unemployment
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Government Employment Policies
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Next Week
Fiscal and Monetary Policy of UK
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Homework
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Additional Readings/Videos
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References
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Thank You!
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