Have you ever visited someplace where people seem to have very different ideas about how they work and what they make? Perhaps you've visited places where the Amish live. The Amish don't use many of the modern conveniences that we think we can't live without, such as cars. Or maybe you've visited other countries where the goverment has a much larger role in the economy, deciding what to produce or how much to charge for things.

In America, we often take for granted how our economy works and assume that it's the same in most other places. In fact, economic systems vary greatly depending on where you live. What might be important to you, as a consumer, might have no relevance to people in other parts of the world.

 

Economic Systems In this presentation, let's take a look at various economic systems and how they function. View a printable version of this interactivity.