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Digital Economic Homework 1
Updated: 9/17/2020
Digital Economic Homework 1
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Storyboard Text

  • Mr Sharp
  • Three Different Types of Economies
  • Only what is needed is produced, and everyone has enough resources to survive
  • Maybe if Leo and Bob listen we can have nice things....
  • Mr Sharp
  • The First Type: Traditional Economy The Second: Market Economy The Third: Command Economy
  • These traditions have been done for hundreds of years
  • Workers follow their culture's tradition
  • Traditional Economy
  • Workers are farmers, gatherers and hunters
  • Goals:
  • Economic Stability and Security
  • Some Government Intervention (public works)
  • Economic decisions are made by individuals guided by their interests
  • Trade
  • Market Economy
  • Entrepreneurship
  • Competition
  • Goals:
  • People can decide what to buy and how to buy it.
  • Economic Freedom and Efficiency
  • Investments
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