Economic Scenarios

Sun opened a small restaurant a few years ago and is doing very well. He is even thinking of expanding his business and build a factory to produce his famous and tasty chili sauce, however, the government might not allow him to do so.

• Socialism

• Communism

• Free Enterprise

• Traditional

In Vietnam, the government controls the production and prices of goods. It also determines who receives such goods.

What economic system does this resemble?

• Communism

• Socialism

• Free Enterprise

• Traditional

North Korean government makes all decisions for every major industry and citizens are not allowed to own private property either.

What economic system does this resemble?

• Communism

• Socialism

• Free Enterprise

• Traditional

The Masai created their wealth through the raising of (usually) cattle.

Cattle is one of their main currencies.

What economic system does this resemble?

• Free Enterprise

• Socialism

• Traditional

• Communism

China controls production, prices and distribution of goods and merchandise in the country.

What type of economic system does China have?

• Free Enterprise

• Communism

• Socialism

• Traditional

People in South Korea own their businesses and are also allowed to participate in major industries’ development and growth.

What type of economic system does South Korea have?

• Traditional

• Socialism

• Communism

• Free Enterprise

Chun lives in Whooville and is a skilled baker and even dreams of having his own bakery someday. Chun knows he cannot have his own business due to the totalitarian government of his country.

What economic system does Chun live in?

• Traditional

• Communism

• Socialism

• Free Enterprise

Rural Haiti relies on a system of barter and trade.

What economic system does this resemble?

• Traditional

• Free Enterprise

• Communism

• Socialism

India allows citizens to own their own businesses, homes and transportation means. The government only acts as an umpire ensuring rules are followed.

What type of economic system does India have?

• Free Enterprise

• Communism

• Socialism

• Traditional

In Maryville, people are not allowed to take part in large industries such a manufacturing or even wholesale industries. The government dictates what merchandise will be made as well.

What type of economic system does Maryville have?

• Communism

• Traditional

• Socialism

• Free Enterprise