Unknown Story
Snemalna Knjiga Besedilo
- The World Trip
- I wonder how differant economies work?
- Stop one: New York City
- North Korea
- Ethan is about to go on his vacation to multiple countries around the world that each hold differant types ofeconomies and explore how they work and compare to other economies.
- Bhutan
- The US is a great example of a mixed economy. A mixed economy is a economy that has combimed elements of a command and a market economy. this means that it leaves prodction in peoples hands but takes control some parts of it including agriculture and regulation.
- last stop: England.
- Where’s the Big Ben???
- north Korea would be a example of a command economy. this means the the goverment oversees and controls everything that happens when a product is made.they control the agriculture, the production, the regulation, the market. This also means that they own all of the products.
- What Ethan learned on his trip
- the differant types of economys are so interesting!!
- next up in Ethan's trip is going to Bhutan. Bhutan is a example of a traditional economy. this means that rather then having a currency or exchanging money they will trade good with each other. Some of the things that they would trade would be leather, eggs,milk. mainly common things that you would find on a farm.
- Ethan’s at his last stop now, England. England is a great example of a market economy. A market economy is an economic system in which production and prices are determined by unrestricted competition between privately owned businesses
- Ethan had learned a lot throughout his trip about the differant types of economys. he learned that a command economy is controlled by the goverment. A market econo,y is when the economy is controlled by the poeple. a mixed economy is a mix between the commmand and mixed economys. And lastly, a traditional economy is when people trade good instead of a currency.
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