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things are quite simple here. we hunt for our food and we eat whatever we catch. we also make our own tools and goods.
hi, I'm Russell, and this is where i grew up. rural Alaska
this is how things have always been around here. we are a traditional economy
traditional economy is where goods and services are produced the way they always have been
a command economy is where the government controls the production and distribution of goods & services
this is my mom's house in china. I visit often to give her goods because here, the govt. controls the production of goods & services
this is my dad's estate in Wyoming. here he is a farmer and makes the decision where and who to sell his crops to.
in the U.S, they have a market economy. the production of goods and services are controlled by the people.
this is where I live - France. here i am a business owner
a mixed economy combines elements of command & market economies
i chose France for my business because i get to own my business privately and have private employees
but also because the government can intervene in business to meet the economic goals of the country
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