2nd Period Social Studies Comic Strip
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- Today we will be learning about the 4 types of economic systems.
- Teacher, what even are the 4 economic systems?
- Well Arnold, the 4 economic systems are Mixed, Command, Market, and Traditional economy.
- A Market economy is a system in which production and prices are determined by competition between private businesses.
- A command economy is like communism because the government has control over everything.
- A mixed economy is a combination of a market and command economy. For example, the U.S. and France.
- Last but not least, a traditional economy is an economic system in which traditions and beliefs help shape their way of living.
- Oh! Now I get it!
- This comic strip is by Scottie Brown and Ellie Lane!
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