Economic Systems Assignment
Updated: 12/17/2019
Economic Systems Assignment
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Storyboard Text

  • Types of Economic Systems
  • You will now learn about the 4 different types of economic systems!
  • Market Economic System
  • Command Economic System
  • The government is in full control and I have no ownership or say
  • I hope a coup doesn´t happen
  • All across the world, various countries and governments have adopted specific types of economic systems. These economic systems help societies and civilizations organize their resources, and their policies
  • Traditional Economic System
  • In a Market Economic System decisions regarding investment and production are determined almost entirely by privately owned businesses with little to no government interference. A country that uses this is China
  • Mixed Economic System
  • In a Command Economic System, The government owns all means of production and decides how good and services will be produced. A country that uses this is North Korea
  • In a Traditional Economic System the people follow the customs and the traditions that their ancestors made. The people collaborate in order to help and improve the lives of their community. A country that uses this is Haiti.
  • I spend my days farming and harvesting crops to give to my village
  • In a Mixed Economic System there is a blend of both private and public enterprise. In this economic system, private business still have control but the government can also have control in certain instances. A country that uses this is the United States of America
  • I am able to start a business and not have to worry about complete government control
  • While we are still able to make rules and regulations!
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