Type of Economies- Kayla and Megan
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Traveling to North Korea
Belle is traveling traveling around the world to explore different types of economies.
Belle is walking from store to store watching how people compete against other producers. Market economy is when producers are not controlled by the government and stores have competition between other stores.
On the way to Africa...
Belle is traveling to North Korea after visiting Missouri to learn about command economy.
Belle is learning how the command economy plays a role in the society in Korea. As she walks around Korea, she notices many differences between the market Economy and Command Economy. Command Economy is controlled by the government and all profit goes to the government. Next Stop, Africa.
China is popular for their Traditional Economy. In this economy, goods and services are produced the way they always have been.
Belle see's how Traditional Economy is different from Command and Market.
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