economics system
Updated: 12/17/2019
economics system
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Storyboard Text

  • command economy
  • welcome mr president
  • market economy
  • umm boss edison and co. just passed us again
  • how do you like that schawb?
  • traditional economy
  • we will keep our eyes on you. you aren't able to own more than 5% of oil companies
  • Russia is an example of a command economy disadvantages: lack of competition and efficiency advantages:- low levels of inequality
  • mixed economy
  • okay but i still get to own my own business right?
  • hong kong is an example of market economy disadvantages:- shortage of cash advantages:- more expansion
  • an example of a traditional economy is haiti mainly based on farmingdisadvantages:- high levels of competition advantages:- traditional economies don't produce industrial pollution
  • examples of countries with mixed economies are France and the united states disadvantages:- government could go too far advantages:- permits private participation in products
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