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  • Meet Amalia, she is going to travel the world to see different economies and learn about the principles of of capitalism.
  • Her first trip is to the soviet union. Here, they use a command economy, this means that production, investment, price, and incomes are controlled by the government. 
  • Amalia's next trip is to the United States, they practice a market economy. This means that decisions, prices, and services are guided by a country of individual citizens.  
  • In the United State, Amalia rents a car, this is competition, she had to pick between 2 car companies. She uses the car to go sight-seeing. 
  •                  Amalia's next trip is to Asia, they use traditional economy. This means traditions, customs, and beliefs shape goods or services the economy produces.                                                                                                                                                                         
  • Amalia wants to make some money for her next trip, so she sells silk. She bought the silk for 500$, and sold it for 700$. Amalia made a profit of 200$. 
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