Different types of economy

Different types of economy

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Storyboard Text

  • 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. 
  • The end
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