Market vs Command
Updated: 12/20/2019
Market vs Command
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Storyboard Text

  • Hey, My Name is Anthony I am from the United States ! What about you what economy do you live in ?
  • Oh Hey My Name is Heuing Min ! Nice to meet you where are you from? In North Korea we live in a command economy.
  • We also have economic stability in our country so we always have our resources for stable prices.
  • Oh in United States we live on a mixed/market economy. Economic goals that exist here in US are economic freedom we have the choice to sell, produce and buy.
  • Nice! Very different to what we have here in North Korea, an economic goal we have is economic security the government provides healthcare and housing.
  • As well as economic equity we all get paid the same salary by the government and all get provided the same needs.
  • Overall, the quality of life is good and bad here in North Korea do due the command economy. It is good because the government provides us with a house and healthcare but bad due to the lack of freedom
  • That sound really good! Over here in America some positive effects that we have is the ability to own a business, sell products, and to buy any needed resources or wants. Also people in the country have the ability to express themselves on politics, new ideas for the government.
  • Hope you have a great night! It was a really good talk with you about our economies. Learned a lot about command economies.
  • Some positive effects of living in North Korea is that we do not have to worry about housing, healthcare and job since it is provided by the government.
  • Another positive effect that exists in North Korea is that everyone's salary is the same. As well as 0 unemployment
  • INDEED it was! Thanks for improving my knowledge on mixed/market economy. BYEEE!
  • Also, In USA another negative effect is that sometime there is high unemployment since not everyone is guaranteed a job. 
  • Talk to me, What are some negative effects in your country? In USA some negative effects we have are that too much competition leads to uneven distribution of wealth.
  • Wow, that is very much different to us here in North Korea the government does not let us produce individual goods. Even if the government provides it to us it is low quality.
  • We also do not have very much freedom of what we can sell or purchase.
  • The quality of life in an mixed/market economy is very well do to the economy always growing due tot he competition of goods and services. 
  • But yes, just because we have more freedom to start businesses that does not guarantee us to be wealthy. Also, the quality of life is as good as you want it to be in a mixed/market economy. You work hard for what you want.
  • Really well proven point Anthony!
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