Main goal; 2. Effects on consumers: (a) Positive (b) Negative B. Parties and What They Do. o Identify the advantage of a free market economy. As You Read. Effects on industry: (a) Positive (b) Negative 5. Guided Reading and Review. Economics Guided Reading Chapter Two – Economic Systems Section 3 – Centrally Planned Economies Directions Following the page and heading prompts to read your Economics textbook assigned pages and write in the missing words or phrases. View Homework Help - Ch.2 Guided Reading from ECON 101 at Marina High School. Chapter 18, Section 2, Guided Reading: The cold War Heats Up. 30) the market in which households purchase the goods and services that firms produce. Answer all questions in complete sentences. Planned economy, as denoted by the term, is an economic system that is planned and organized, usually by a government agency. Fill in the missing information in the time line below as you read Section 3. Central Economic Planning in the Former Soviet Union I. 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Many banks were forced to close in 1893 because they didn't have Gold to back their bank notes. Role of central government; 3. ... section 3: guided reading and review how a bill becomes a law: the house. Main Idea: Government intervenes in market economies because some needs and wants of mod- ern societies are hard to answer in the marketplace or … o Analyze a circular flow model of a free market economy. Worksheet (Section 3: Guided Reading and Review, Centrally Planned Economies) The Product Market (pg. Section 3. As you read Section 3, supply the missing information in the chart below. Economics, Chapter 2, Section 3: Centrally Planned Economies Standard: PA 6.1.12.A PA 6.1.12.C PA6.2.12.A o Explain why markets exist. As You Read As you read Section 3, supply the missing information in the chart below. Page 34 - 35 Objectives After studying this section you will be able to: 1. o Understand the self regulating nature of the marketplace. Section 3: Guided Reading and Review. 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