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Hope this trip is going to be great like the other ones were.
Day 4: South Carolina
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After Florida, she took a bus to South Carolina. To get her ticket she has to go to the bus station to get it and than wait at the bus stop with the other people. While waiting for the bus, she realize that she was doing an economic called traditional. Traditional is goods and services that are produced the way it has always been. Avery was doing that traditional way of getting a bus ticket and waiting for the bus like everyone else did.
When Avery was in South Carolina, she wanted to go to a restaurant for lunch but, she needed to go to the bank first. When she went to the bank, she asked the worker who owned this building. The worker told her that the government owned it. By the worker telling Avery that, she learned that is a command economy. Which means resources are owned and controlled by the government. Therefore, the bank is controlled by the government to give money to people when needed.
Avery is finally done going on her adventure. When she was coming home, she stopped by a store in the airport. She found this shirt that her friends all have so, she bought it. When she went up to the cashier to pay for it, the cashier told Avery that this is a popular shirt and that the price of the shirt is going up. Also, the cashier told her that her paycheck is also going up to because everyone is buying that shirt. this is a example of market economy- pricing of goods and services are guided solely by aggregate interactions.
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