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2 Economic Systems - Weebly

CONCEPT REVIEWS carcity is the situation that exists when there are not enoughresources to meet human 2 KEY CONCEPTA neconomic system is the way in which a society uses its scarceresources to satisfy its people s unlimited THE CONCEPT MATTERSHow does a society decide the ways to use scarce resources to meetunlimited wants? Its Economic system determines what to produce,how to produce, and for whom to produce. Although every countrytoday uses a mixture of Economic Systems , some mixed systemsprovide more Economic and political freedom and create morewealth than CAPITA GDPPer capita GDPYear02,0004,0006,0008,00010,00012,000 14,00016,0001994 1998 1996 2002 2004 2000 Source: United Nations Statistics Division SOUTH KOREANORTH KOREAHow do the economies of North Koreaand South K

Namibia in southern Africa, for example, have lived as subsistence farmers for centuries. (Subsistence farmers grow just enough to feed their own families.) Modern tele-communications, however, have bombarded the Kavango with images of the world beyond their homeland. As a result, many young Kavango want something more than the life of ...

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