Different types of economy
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Hello... I am Lily
The first place I'm going is America and it is a mixed economy
A native American tribe lives here. And this is a traditional economy
Lily is going to travel around the world to look at different economies.
We are now in North Korea. They are a command economy
A mixed economy is control by the government and the people by their choices.
We are no where right now because the free market economy has no pure form
In a traditional economy everyone contributes and gets something and culture is very important too.
Thanks for going around the world with me to see the different economies.
A command economy is where the government is in control of the prices and what you can sell.
This is where the people decide the prices only based on what they choose to buy and spend.
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