4 Economic Systems.

4 Economic Systems.

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  • Traditional Economy 
  • There isn't that much production this season!
  • Now what were the things my father told me,that I have to teacher him now?
  • Market Economy     
  • There is so much of the same things just in different packaging
  • Command Economy 
  • Why are we all dressed similar??
  • Individual trades, Keeping customs and traditions(from generations), Good for the environment, Society usually(most likely) doesn't stand still, process for natural resources takes a longer time. 
  • Mixed Economy 
  • Easily accessible to consumers, based on supply and demand, government does not interfere with production,Private ownership,This usually leads to monopolies, corruption and competition between business
  • Government controls the production, prices, resources or goods and services. NO private businesses,and does not meet needs and wanted of consumers. 
  • A combination of command and market economy, some government influence but mostly private/ personal decisions made(how/who/whom), usually ends up to poverty and Risk of losing business and other things.
  • We got our own business
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