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Storyboard Description

types of economy

Storyboard Text

  • There are four main types of economic systems, they are;
  • the people in this economy need to hunt, gather and feed themselves. they are not worried about making a profit 
  • The demand for new phones is much higher than the demand for a new iPad so I say we get 3 boxes of new phones and just one for iPads
  • Australian Government Meeting 
  • As we are an socialist economy, we as the government get to make all the decisions for everyone including answering the three economic questions
  • Australian Government Headquarters 
  • As a mixed economy i own my own business and am able to make my own decisions about my private property
  • But I as someone working for the government am able to intervene and also make decisions for the economy
  • I hope you learnt something new about different types of economic systems 
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