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Economic Systems
Topics for Week 5
Summatives
Tests & assessments that make up 80% of your grade
Traditional Economy
An economy based on customs and traditions.
Cultural Identity
Sense of belonging shaped by traditions.
Family Influence
Decisions shaped by family customs and values.
Career Choices
Occupations often follow ancestral paths.
Marriage Traditions
Marriage decisions influenced by family practices.
Mahmoud's Learning
Learns farming techniques from his father.
Fatma's Skills
Showcases abilities to attract potential suitors.
Free Market Economy
System where prices are set by supply and demand.
Competition
Many businesses vie for customer attraction.
Consumer Choice
Ability to select purchases based on preferences.
Private Property
Individuals own resources and control their use.
Price Determination
Prices rise with high demand and low supply.
Price Decline
Prices fall with high supply and low demand.
Entrepreneurs
Individuals who start businesses to fulfill needs.
