Identification should include
- market, command, and traditional economies with their characteristics and effects on agricultural production and distribution
- the influence of each system on incentives, pricing, and resource allocation.
Process/Skill Questions:
- What is the primary economic system in the United States?
- What is the difference between centralized and decentralized economic decision-making?
- What are the essential roles of government in a market economy?
- How does a government enforce property rights?
- How does a government prevent concentration of economic power?
- Who primarily determines how businesses are operated in a free-enterprise system?
- What is the role of trade in agriculture?