Economy Talk

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  • Hello, what's your name?
  • Elizabeth
  • My name is Tom, nice to meet you, what's yours?
  • Not very good sadly, working in a factory isn't the most fun job in the world.
  • Well Elizabeth, hows your day been?
  • And whats that?
  • I have a great idea!
  • Lets walk around the city and talk about economies!
  • Lets stat with our favorites, whats yours?
  • My favorite is Market economy, which is a capitalistic economic system in which there's free competition and prices are determined by the interaction of supply and demand.
  • I like that one too, but my favorite would have to be command economy.
  • Haven't really heard of that one, whats is it?
  • Lets walk and ill tell you.
  • A command economy is a socialist economic system where production and distribution of goods and services are controlled by the government and industry is mostly publicly owned.
  • This will take a while so lets keep walking.
  • Oh, ok i can see why you would like that one, but im confused, i thought their was 4 all together, what are the last two?
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