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4 types of economy
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The 4 types of economies
the 4 types of economies by Don Woody
they don't ask the people because the government controls the oil reserves
Saudi Arabia is trying to sell their oil reserves
why doesnt the country of Saudi Arabia ask the poeple if they should sell them
what we have is a market economy which means the resources are controlled by the people of the country such as this restaurant
then what kind of economy do we have?
yes they can, that's called a mixed economy when command and market economy mix together and an example of is mixing private enterprise with a public enterprise
can the economies mix together?
most underdeveloped countries have what's called a traditional economy which means that's based off customs and beliefs
what about less developed countries? what kind of economies do they have
some examples of countries with a traditional economy are Bhutan and Haiti.
wow I've learned so much today thanks to you.
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