types of economies

types of economies

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  • The Classroom
  • I love learning about economies
  • same dawg
  • Traditional Economy
  • DiNNeR!!!
  • shoot... I gotta go
  • Market Economy
  • A Company Ran by Your Local Friend
  • The kids in school were learning about different types of economies; traditional, market, command and mixed. While they were learning, they pictured what those economies looked like. 
  • Mixed Economy
  • Privacy provided by the government
  • First they envisioned a traditional economy. They pictured a tribe hunting for their food in the wild and using their own ways that they developed themselves to produce clothing and shelter. In a traditional economy, goods and services are produced the way they always have been.
  • Then they saw a community ran by the citizens of the country, with businesses owned and operated by them. An economy like this where the resources nd businesses are owned and controlled by the people of the country is called a market Economy.
  • Next they saw a business owned by a citizen of the country and controlled by the government. This is called a mixed economy because it contains combined elements of a market economy and command economy.
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