p. 1 classification according to the allocation of resources pptppt ch.2 basic economic problems...

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P. 1Classification according to the Classification according to the allocation of resourcesallocation of resourcesClassification according to the Classification according to the allocation of resourcesallocation of resourcesPPTPPTPPTPPT

CH.2 BASIC ECONOMIC PROBLEMS 問題

•What to produce?

•How to produce?

•For whom ( 為誰 ) to produce?

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Unlimited wants

Limited resources

Scarcity

Choice

What? How? For whom?

ECONOMIC SYSTEMS CLASSIFIED IN TERMS OF METHOD ( 方式 ) OF RESOURCES ALLOCATI

ON ( 調配 ) • Market economy: price mechanisms 機制 • Planned ( 計劃 ) economy: the government draws 制

訂 detailed 詳細 plans 的計劃• Traditional ( 傳統 ) economy:• Mixed 混合 economy: the features 特徵 of all the ab

ove three types are mixed together 在一起• In reality, almost all economies are mixed economie

s. Hong Kong is a mixed economy which is weighted towards 偏向 a market economy. 4D 2/10

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2.2 Marketeconomy

2.3 Planned (command指令 )econo

my

It is solved by prices. When people are willing to ( 願意以 ) pay for a good at a pric

e, producers will be attracted ( 吸引 ) to produce the good.

The government lays down ( 定下 ) rules

for the types ( 類型 ) and quantities ( 數量 ) of goods to be produced.

What to produce ( 生產 ) ?What to produce ( 生產 ) ?

How different (How different (不同不同 ) economic problems are solved ) economic problems are solved ((解決解決 ) in different economic systems () in different economic systems (體系體系 )?)?

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2.2 Marketeconomy

2.3 Plannedeconomy

It depends ( 取決於 ) on the cost (= factor

price) of different ways of production ( 不同生產方式 ). Producers will try to maxi

mize their gains ( 達致最大收益 ). Theref

ore, the least ( 最低 ) cost production method will be employed.

It is the government’s decision ( 決定 ).

How to produce?How to produce?

How different economic problems are How different economic problems are solved in different economic systems?solved in different economic systems?

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2.2 Marketeconomy

2.3 Plannedeconomy

Since there is a price for a good, people who are able ( 有能力 ) and willing to pay the price will get it.

It is also determined ( 決定 ) by the government.

For whom to produce?For whom to produce?


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2.3 Planned economies

2.2 Marketeconomies

Ownership ( 所有權 ) of R

esources

Owned by the state for all its people, i.e. socialist ( 社會主義 ) economy.

Owned by private individuals ( 私人 ) for their own gains, i.e. capitalist( 資本主義 )economy.

Ownership and allocation of Ownership and allocation of resources in different resources in different economies.economies.

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2.3 Planned economies

2.2 Marketeconomies

Method ( 方式 ) of allocation ( 調配 ) of resources

Choices are made centrally and planned by the government.

Choices are made freely ( 自由 ) by individuals in response to ( 因應 ) market prices.

Ownership and allocation of Ownership and allocation of resources in different resources in different economies.economies.

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How to produce?How to

produce?For whom

to produce?For whom

to produce?What to

produce?What to

produce?

2.4 Traditional

economy

It is determined ( 決定 ) by the basic needs for survival ( 生存需要 ).

Production techniques ( 技術 ) are very simple.

It is determined by customs and values ( 習慣和價值觀 ).

4D 5/10Hong Kong can be described as a market economy because

A. (2) only.B. (1) and (2) only.C. (2) and (3) only.D. (3) and (4) only.

(1) there is no government involvement in any kinds of economic activities.

(2) all the problems of resource allocation are solved by market prices.

(3) most resources are privately-owned.(4) the allocation of resources is mainly

determined by prices.

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4

Hong Kong can be described as a market economy because


There would have to be some government services even in a market-oriented economy.

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2 Most, but not all, problems are resolved by market prices.






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3 Ownership of resources can be used as a reference to identify a market economy.A. (2) only.

B. (1) and (2) only.C. (2) and (3) only.D. (3) and (4) only.





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4 Price is the major solution of the three basic economic problems in a market economy.A. (2) only.

B. (1) and (2) only.C. (2) and (3) only.D. (3) and (4) only.





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DA. (2) only.B. (1) and (2) only.C. (2) and (3) only.D. (3) and (4) only.





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A. there is no government involvement ( 干涉 ) in any kind of economic activities.

B. all problems ( 問題 ) of resource allocation ( 調配 ) are solved ( 解決 ) by ( 由 ) market prices.

C. most resources are privately-owned ( 屬私人所有 ).

D. the resources allocation is mainly determined by ( 主要取決於 ) prices.

Hong Kong can be described as ( 可說是 ) a market economy because ( 的原因是 )

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A. there is no government involvement in any kind of economic activities.

B. all problems of resource allocation are solved by market prices.

C. most resources are privately-owned.D. the resources allocation is mainly determined by

prices.


Hint: Option B is false. Not all problems are resolved by market prices.Hint: Option B is false. Not all problems are resolved by market prices.

Hint: Option A is wrong, since there would be some government services even in a market-oriented economy.

Hint: Option A is wrong, since there would be some government services even in a market-oriented economy.

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prices.


Hint: Option C is not the right reason for classifying the market economy.Hint: Option C is not the right reason for classifying the market economy.

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prices.


D

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Hong Kong is a market economy. Resources allocation is mainl

y determined by _____________________(the government / prices).

prices

p. 1 classification according to the allocation of resources pptppt ch.2 basic economic problems...

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