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36 Think and say.
Who
owns property in each economic system?
37 Define advantages and disadvantages of each economic system and
fill in the table below. Then tell about them.
To have one's own role in the society; to be stable / unstable; to discour-
age new ideas and ways of doing things; to accept new methods and prod-
ucts; to make / not to make dramatic change in a short time; to provide / not
to provide each person with a job, medical and social services; to meet / not
to meet consumers’ needs; to encourage / not to encourage to work hard; to
adjust / not to adjust to changes of consumers' wants and needs; to be / not to
be safe socially and psychologically; to be / not to be subjected to crises and
depression.
Economic system Advantages Disadvantages
Traditional to be stable, … to discourage new ideas
and ways of doing
things, …..
Command
Market
38 Read these sentences and define the economic systems they refer to.
(Use dictionary if necessary).
1. There will be no form of personal income which is derived from the own-
ership of property.
2. The basic economic problems do not arise as problems to be discussed
and argued about.
3. All land, housing, factories, power stations, transport systems and so on
are usually owned by the state.
4. The elders, the heads of families, the women and the children will re-
ceive shares according to ancient custom.
5. Businesses are free to choose whom to buy from and sell to and on what
terms, and free to choose whom to compete with.
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