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  • Welcome to business class, today we will learn about the 4 types of economy
  • The first type we will learn is command economy and in this economy the prices, production and incomes are determined by the government. An example being North Korea
  • Market economy, which is the next economy we will learn, is like the USA where the reasources are owned by the people rather then the government  
  • The third type of economy is a traditional economy, this is wear the goods and services are produced the way they have always been produced. An example of theis would be Haitiand 
  • The last type of economy is mixed economy, mixed economy combines elements from both command and market. examples of this is china.
  • Hope you learned a lot about the 4 types of economies see you tomarroew  
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