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Updated: 12/18/2019
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Storyboard Text

  • Mix Economy
  • Command Economy
  • Traditional Economy
  • America is an example of mix economy because there is less government involvement in the production of goods and services. For example in the image it shows how they are building a park but the government gives laws on how many playground could be build .
  • Market Economy
  • Russia is seem as a command economy because the government is in control over production of goods and services. It means that the people have less authority over business. So there are less private ownership.
  • Traditional Economy is when the society pick and choice what is needed to help the community grow or develop. For example some countries in Africa and also Native American relied agriculture to match their daily needs
  • Market economy is when the individual own the their and decide what ever good and services are needed. Market economy most of the times are associated with private companies.
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