Latin American Economic Systems Compared

Understanding Traditional, Command, and Market Economies Grade 6 Social Studies Mexico, Cuba, and Brazil

Think About This!

If you had to decide what your family should make or buy, how would you choose? Who would help you decide? How would you share what you made?

Three Big Economic Questions

What to produce? (What goods and services should we make?) How to produce? (What methods and resources should we use?) For whom to produce? (Who gets the goods and services?)

Economic Systems Chart Activity

Work with your partner to fill in the chart Traditional Economy: Based on customs and traditions Command Economy: Government makes all decisions Market Economy: People and businesses decide

Economic Systems Comparison

{"left":"Traditional: Families decide based on customs, use simple tools, share within community\nCommand: Government decides everything, controls all resources, distributes to citizens","right":"Market: Consumers choose what to buy, businesses compete, those who pay get goods"}

Mixed Economy Continuum

Country Research Groups

Group 1: Mexico - Mixed economy leaning toward market Group 2: Cuba - Command economy with government control Group 3: Brazil - Mixed economy with traditional and market elements Create a poster showing how your country answers the three economic questions

What We Learned Today

Every country must answer: What? How? For whom? Economic systems range from command to market Mexico, Cuba, and Brazil have different mixed economies Most modern countries combine elements from different systems