Unknown Story
Updated: 4/20/2020
Unknown Story
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Storyboard Text

  • Traditinal
  • Pros- Participants generally understand the system, Roles are clearly identified, and little competition.
  • Cons- Slow changes, Individuals often have no control, Does not allow for growth and development
  • Pros- distributes wealth among society, Products produces fulfill needs well, and serves people and focuses on equality.
  • command
  • Cons-Cant adjust to change easily, can often lead to corruption, and cant identify society objectives very well.
  • Market
  • Pros- adjust to change easily, large variety of goods and services, and capital flows to where it will get the greatest return.
  • cons-People can make choices which can be harmful to themselves and others, there are occasionally market failures,
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