Meet Griffin, he is going to go on a journey to visit other countries around the world.
I can't wait to finally go on vacation
While Griffin was about to land in Rio de Janeiro, his plane was over the Amazon rainforest and he witnessed an example of traditional economy-an economy in which goods and services are produced the way they've always been produced. He saw amazonians hunt a deer to bring food for their family and tribe.
Griffin went to go eat at one of the best family owned restaurants in Rio. He found out that the urban part of Brazil is a mixed economy- combined elements of a market and command economy. He found out that they have to pay taxes to the government in order to spread out the wealth in Brazil.
First Country: Brazil
I have to pay tax for food?
Yes. I have to pay wealth tax because of my restaurant
Griffin went to a market and observed an example of market economy- The resources are owned and controlled by the people of the country. He saw this guy that was willing to sell his car for £5000.
Second Country: United Kingdom
Yes, would you like to buy it for £5000?
Clothes for sale over here!
Is this your car? It's really nice
When Griffin was in a store, he heard an example of command economy-an economy in which the government controls the production of goods and services. He heard that the manager was sad because he couldn't control the prices of the goods and that he couldn't make a lot of money for himself.
Third Country: Cuba
I can't bring in any money for myself
I don't have any control of my store, the government does
Griffin is finally back from his fun vacation, and he can't wait to go to sleep.