Episode 38 of 60 · Financial Literacy: Cash Course
Why Economic Systems Matter
Grades 6th+
Economics — Economics & Financial Literacy · Financial Literacy · Economics · Captions
About This Video
What are the differences between command, free, and mixed market economies? In this episode of Cash Course, your students will learn how government regulation impacts business, why competition fuels innovation, and whether free markets lead to better choices and greater opportunities. By examining the pros and cons of each system, they’ll gain the tools to become more informed consumers and empowered citizens.
Standards Met in Ohio
- 9-12.EFL.4Grades 9th, 10th, 11th, 12thDifferent economic systems (traditional, market, command, and mixed) utilize different methods to allocate limited resources.
- EFL.9-12.4Grades 9th, 10th, 11th, 12thDifferent economic systems (e.g., traditional, market, command, mixed) use different methods to allocate limited resources.
- EFL.9-12.4.aGrades 9th, 10th, 11th, 12thCompare and contrast the different economic systems (e.g., traditional, market, command, mixed).
- EFL.9-12.4.bGrades 9th, 10th, 11th, 12thIdentify the different economic systems (e.g., traditional, market, command, mixed).
- EFL.9-12.4.cGrades 9th, 10th, 11th, 12thIdentify an economic system.
- EFL.9-12.4.lp.bGrades 9th, 10th, 11th, 12thUnderstand that a mixed market includes elements of a market system and command economic system.