Different Economic Systems

Different Economic Systems
  Copy


More Options: Make a Folding Card




Storyboard Description

This storyboard does not have a description.

Storyboard Text

  • ✨AISHAH WAGUE✨
  • TRADITIONAL ECONOMY
  • No Maria I've Gotten Use to this 
  • Hey Bob Are You Tired
  • COMMAND ECONOMY
  • I Wish I could have my own job of my choice
  • Trust me we all do
  • MARKET ECONOMY
  • HEY EVERYONE COME AND JOIN ME ON LEARNING ABOUT THE DIFFERENT TYPES OF ECONOMIC SYSTEMS
  • Well business was booming today hope everyones stocks went good as well 
  • A tradition economic system is a basic and ancient type of economy that depends on agriculture and hunting and gathering. A country with a traditional economic system is North Korea. A strength of this system is that it is good for the environment because they produce less waste compared to the other economic systems. A weakness of this system is that the supplies can be limited depending on your location.
  • MIXED ECONOMY
  • Well I guess we all have the same amount of power here
  • Yes, Indeed we do
  • A command economic system is a system where the government has full control. The government decides what is going to be produced, how much of it will be produced, and the cost of what's being produced. A country with a command economic system is Cuba. A strength of this system is there wont be any monopolies because the government controls everything. A weakness of this system is there is no private ownership because everyone has a job provided to them by the government.
  • WORDS TO KNOW
  • A market economic system is a system where there is very little government intervention and the entire system is run by the citizens themselves. Also it allows private actors to become extremely powerful. A country with a market economic system is China. A strength of this system is that it is based on supply and demand, so its able to meet peoples needs and wants. A weakness of this system is that there is no government intervention so that can lead to business monopolies.
  • A mixed economic system is an economic system where the means of production are shared between private and public sectors. A country with a mixed economic system is the united states. A strength of this system is that it can lead to incredible results because neither private nor the government sector alone can maintain the economy. A weakness of this system is that some governments tend to increase their power more than necessary. 
  • Monopolies: A market structure characterized by a single seller, selling a unique product in the market. In a monopoly market, the seller faces no competition, as he is the sole seller of goods with no close substitute.
Explore Our Articles and Examples

Try Our Other Websites!

Photos for Class   •   Quick Rubric   •   abcBABYart   •   Storyboard That's TPT Store