Download Essential Question: What are the similarities and differences in

Standard:
SS6E5c. Compare the basic types of economic systems
found in the United Kingdom, Germany, and Russia.
SS6E5a. Compare how traditional, command, and market
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economies answer the economic questions of (1) what to
produce (2) how to produce (3) for whom to produce
SS6E5b. Explain how most countries have a mixed
economy located on a continuum between pure market
and pure command.
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Use the Economic Systems of Europe
Graphic Organizer to record your information
 Service industries like banking, insurance, and
business services account for most of the UK’s
gross domestic product
 Over the decades, the government has turned
over many state-owned companies to private
ownership setting up free market competition
 In short, the United Kingdom has a mixed market
economy because some of its economy is driven
by producers, consumers, and markets while
other aspects of its economy are controlled by
the government
 An export-based economy focused on manufacturing
and products [relies on global markets]
 There is also still an issue with updating the Eastern
German economy to compete and operate equally
with Western Germany [Western Germany invests money
in Eastern German states to help modernize and update
factories and production lines. West Germany had to bring
East Germany’s command economy into its market economy]
 Germany’s economy combines a market system,
some government control, and even social welfare
where help is given to the poor
 Russia has struggled as it transitions from a
command economy under the Soviet Union to a
mixed market economy today
 Many government-owned companies are being sold
to private businesses, but the Russian government
is still largely involved with many aspects of the
economy
 Russia faces financial problems and huge costs to
improve its old plants and industries to be more
efficient
Think, Pair, Share:
Answer the question on the bottom of your
graphic organizer.