Centralized

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Storyboard Description

Fiona is 7 years old Rafael is 9years old So,What is ivan

Storyboard Text

  • Can I ask you  some questions ?
  • Yeah , What are the questions ?
  • What is the meaning of Centralized economic system ?
  • It is a system which economic activity is dominantly controlled by the central Government 
  • What are the characteristics of Centralized Economic System ?
  • So ,  there  are 5 characteristics  in Centralized economic sysrtem 
  • All economic activites are controlled by the Government All capital goods are controlled by the government  Individual property right is not admitted 
  • Ok , What else ?
  • There is no individual freedom in running any business and the last one is economic activity doesn't involve the people or private sector  :)
  • Uhmmm.... ok thank you Rafael for your answer :)
  • Ok , see you later Raf 
  • Ok Jake see you later too
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