The Three Economies
Storyboard Text
- Market Economy
- I am a business owner! Us sellers and our costumer control how much goods are in our economy!
- Traditional Economy
- I am a farmer and our economy relies on my agriculture on my farm!
- Command Economy
- We control how much that hotdog is!!!
- What is the Market Economy?
- The prices of the goods and services are guided by the owners and sellers. A market economy is determined by the supply and demand of goods and services.
- What is a Traditional economy?
- A traditional is where tradition guides economic decisions for example production. It is a system that old customs, and honored beliefs.
- What is a command economy?
- A command economy is where the government decides what goods should be produced instead of the people, the price of the goods, and how much should be produced. The government controls.
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