Econ

Econ
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  • Market Economy
  • We are the government, can we get involved?
  • No you cannot. 
  • Mixed Economy
  • No mine is better!!
  • My newstand is better
  •            Traditional Economy
  • I can breathe, I'm glad there is no pollution on this side
  • In a Mixed Economy, it is a mixture of both market and command economies meaning they have aspects of both capitalism and socialism. An advantage is it is mostly private owned businesses. A disadvantage is it runs risks of more poverty.
  • Command Economy
  • The king says no, you cannot have your own business.
  • You get what we give you.
  • In a Market Economy, it offers more economic freedom, while encouraging competition. An advantage is it is easily accessible to consumers. A disadvantage of this is it leads to monopolies.
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  • In a Traditional Economy, it is based on customs and traditions; farming, hunting, gathering. An advantage is individual trade and is good for the environment. A disadvantage is society is at a stand still
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  • In a Command Economy, the government controls the production of everything and does not meet the needs and wants of consumers. A disadvantage is it is government controlled. A advantage is there is low rates of unemployment. 
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