1.6 FREE MARKET ECONOMIES,
THEME 1:
INTRODUCTI
MIXED ECONOMY AND COMMAND
O N TO ECONOMY
MARKETS
AND
MARKET
FA I L U R E Who supplies your education?
Is your school in the state or private sector?
Do both styles of school exist where you live? Why?
Economics
NATURE OF ECONOMICS
, 1.6 FREE MARKET ECONOMIES, MIXED ECONOMY
AND COMMAND ECONOMY
a) The distinction between free market, mixed and
command economies: reference to Adam Smith,
Friedrich Hayek and Karl Marx
b) The advantages and disadvantages of a free market
economy and a command economy
c) The role of the state in a mixed economy
THEME 1:
INTRODUCTI
MIXED ECONOMY AND COMMAND
O N TO ECONOMY
MARKETS
AND
MARKET
FA I L U R E Who supplies your education?
Is your school in the state or private sector?
Do both styles of school exist where you live? Why?
Economics
NATURE OF ECONOMICS
, 1.6 FREE MARKET ECONOMIES, MIXED ECONOMY
AND COMMAND ECONOMY
a) The distinction between free market, mixed and
command economies: reference to Adam Smith,
Friedrich Hayek and Karl Marx
b) The advantages and disadvantages of a free market
economy and a command economy
c) The role of the state in a mixed economy
