Market economy
Storyboard-Text
- Hi my name is Tiffanie and this is a Market Economy
- Market economies answer the three basic economic questions by business owners and getting resources and goods from the markets.
- One advantage Market economies have is that it makes people more innovated and it produces more productivity
- Like this blacksmith here, the more things he creates and the faster he does it , he makes more money
- Another advantage is that it increases efficiency.
- Even though there are some advantages, there are also some disadvantages to the market economy like poor working conditions
- there can also be inequitable distributions of money and wealth
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