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- Types of Economies
- Have you hear about the 4 different types of economies? If not I am going to take you on a trip around the country to explore and give examples of the 4 different types.
- Sounds good. Lets do it!
- Traditional economy
- We treat the people that are unhealthy with similar medicines because that is the way it has been for a very long time
- Oh okay, I get it!
- Mixed Economy
- Where we live is called a mixed economy. That is what the U.S has. This involoves both private and public economies.
- I understand. Some of it is controlled by the government, but some is also sold and controlled by the people.
- Joe is about to learn all about the 4 differernt types of economies from Paul. They will travel around the city to learn about each.
- Command Economy
- Welcome to India! The travel here was't easy, But I wanted to show you this is a country of command economy. This government has control over all economy, therefore the people living here have a small variety of all things
- So, if i lived here the clothing I have on may not be available to purchase.
- THis shows an example of traditional enonomy. THis economy is one where nothing really changes. It stays the same as it always was with little change.
- Market Economy
- Last but not least is the market economy. This is where people just like your frie nds or famili could own their own businniess to control what they would like to do. Anywhere from a lawn buisness to a cookie company.
- The Mixed economy is what the U.S has. This is where some parts of the country control their own personal while the government has some control also.
- Economy Conclusion
- Wow! Everything you just taught me was amazing. Traveling around the world learning about each economy was amazing thank you for the ooportunity.
- My pleasure!
- This economy doesn't allow the people living in it to have very many options. So many people wear simialr clothing, eat the same food, and use the same transportation.
- This economy involves the people of the country. They have the freedom to market anything they may like. It is the economy where you could have a variety of 100 different items made by different companies.
- I undertsand it all now. The peole who own this place have their own prices and buisness.
- Joe learned so much new imformation from Paul as they travaled around the world. Seeing different countries was very helpful for Joe.
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