These economic systems depend on the diverse set of conventions and settings and have their own strength and weaknesses. ), Comparative Economic Systems, New York, Appleton-Century-Crofts, 1969, pp. certain degree of Chapter 2: Economic Systems 1. CHAPTER 2: SECTION 1 Economic Systems Three Economic Questions All nations in the world must decide how to answer three economic questions about the production and distribution of goods. SECTION1 38 Chapter 2 OBJECTIVES KEY TERMS TAKING NOTES As you read Section 1, complete a cluster diagram that provides information on the different kinds of economic systems. Use the Graphic Organizer at Interactive 3. CHAPTER 2 Economic Systems and Decision Making In a market economy, individuals can freely make all economic choices, including opening a store. 3 Chapter Introduction 1 Economics and You In Chapter 2, you will learn how economic systems differ and what makes up the major characteristics of the United States market system. 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Full file at https://testbankuniv.eu/ Chapter 2 Economic Systems Educators Section 1 Introduction to Economic Systems Problem 1 Demonstrate your understanding of the following terms by using each one in a sentence. who face unfavorable economic conditions • standard of living: level of economic prosperity • innovation: the process of bringing new methods, products, or ideas into use • traditional economy: an economic system that relies on Chapter 2: Economic Systems and the Global Economy Section 1: Economic Systems Three … 3 Lessons in Chapter 5: Holt McDougal Economics Chapter 2.1: Introduction to Economic Systems Chapter Practice Test Test your knowledge with a 30-question chapter practice test View Notes - Study_Guide_Chapter_2 from BUSINESS Economicsa at Texas State University. 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