kennedys storyboard
Updated: 4/20/2020
kennedys storyboard
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Storyboard Text

  • Kennedy Kusenberger&Henry Merchant
  • dad, what is a traditional economic system?
  • It is a goverment runned system that produces what people need to survive. It's produced by hunting farming and gathering. And its produced for the people.
  • wow! okay a few more questions!
  • my next question is, what is a command economy?
  • the government and their employees decide how it is to be produced.
  • the government makes all economic decisions about what is to be produced.
  • heres everything you need to know about a command economy.
  • the government decides for who its produced.
  • okay last question... what is a market economy?
  • what is produced by a consumers preference.
  • heres everything you need to know about a market economy...
  • for whom its produced is determined by purchasing power.
  • how to produce is determined by producers seeking profits.
  • wow! thanks dad, now i know everything i needed to know about a traditional economy, market economy and command economy.
  • you're welcome!
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