Description

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This informative yet approachable title gives students a clear understanding of Economic Systems and encourages them to take part in the Economy in Action With plenty of kid-friendly examples, this book explains traditional, free market, managed, and mixed economic systems and discusses how they answer key questions. How can a society best use its available resources to produce goods and services, and how can it effectively allocate and distribute them? Famous economists such as Adam Smith, Karl Marx, John Maynard Keynes, and Frederich von Hayek are introduced, as are the economic theories of each. Economic systems as they exist in different countries are examined, compared, and contrasted to give readers an overview of each system's pros and cons and how each affects the incentive and innovation of individuals who live and work in them. By examining Economic Systems, students will be armed with the tips and tools they need for fiscal fitness. Aligned to Common Core Standards and correlated to state standards. Checkerboard Library is an imprint of Abdo Publishing, a division of ABDO.