Economic Systems Illustrations

Economic Systems Illustrations

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  • Economic Systems Illustrations By: Fatimah (Amrah) Rabi'u
  • Mixed Economy: The mixed economy is one of the the 3 main types of economic systems, where governments and individuals make ideas and share decisions together. Examples: Western Europe, U.S., Australia (Russia is moving towards a mixed country).  
  • We are all at peace, so we are all int his together and also have to work together.
  • $40
  • Traditional Economy: The traditional economy is another one of the 3 main types of economic systems, where traditional beliefs govern economic decisions, its centered around local family, ethnic, or units. Examples: Villages in Africa & S.America, Iunit tribes in Canada, Aborigines in Australia.     
  • I must go out to hunt while the women get everything ready for the food tonight.
  • Command Economy: The command economy is another one of the 3 main types of economic systems, where  governments makes decisions on " who, what, for whom" and determines how resources are used. Examples: Cuba, North Korea, farmer soviet. 
  • I am your leader you have to listen to me and do what ever I tell you to do.
  • Market Economy: The market economy is another one of the 3 main types of economic systems, where Individuals and business  make decisions for themselves not the government. Example: Hong Kong, Singapore, Australia, New Zealand, Switzerland.
  • I am free to sell and buy what ever I need and want for myself and my family, and no one can tell me what i shouldn't do and what I should do.
  • $40
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