Economics Final

Economics Final

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  • ECONOMICS  By Brooke and Abi 
  • Table of Contents 
  • 1.Economic Systems 2.Types of Businesses  3.Money and Taxes
  • In a traditional economy, individuals use scarce resources that stem from ritual, habitat, or custom
  • Traditional Economy 
  • Today I have to go out and hunt while the women gather from the local gardens.
  • Command Economy
  • In a command economy, a central authority makes the major decisions about what, how, and for whom to produce.
  • Everyone must listen to me, I am the leader of our kingdom 
  • In a market economy, people make their own decisions for their own best interest.
  • Market Economy
  • I have the freedom to buy and sell for the needs of myself and family.
  • Mixed Economy 
  • In the mixed economy, systems combine elements from all three types (Traditional, Command, and Market).
  • We're all in this together
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