Economic systems

Economic systems

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  • Types of Economic Systems
  • Market Economy
  • Well yeah, as a company, when business is great, you'd want to expand your stores to other areas for more money. 
  • Yo there are so many bodegas around this area!
  • Traditional Economy
  • I'm SORRY! This is a traditional economy and although we do little damage to the environment through hunting, farming and gathering, when a resource is gone--it's gone! Please don't kill me it's not my fault!!!
  • There are four economic systems, market, traditional, command and mixed economies. Today I'll be explaining each to the best of my ability.
  • Command Economy
  • No disrespect Miss, but all the stores provide is white shirts and black pants?? I come to you for this because you run the gov that controls our economy.
  • A market economy is where the people get to control what is produced and how much is produced. The government has no influence in this and this enconomy encourages private ownership. However if your business fails, there is no government bail-out--you're bankrupt!
  • Mixed Economy
  • I own a business that was doing really well, but I was told you made new policies that limit my production and trade so?
  • A traditional economy basically holds the values of farming, hunting and gathering to make money. It does little damage to the environment, but when a resource is gone--it's gone.
  • The end!
  • A command economy is when the government holds complete control over the economy. The government decided what is produced and how much is produced in factories. There is no unemployment in this economy, but in places with a big population it's hard for everyone to be catered to.
  • Facts, plus the food we get is always the same... I was talking to my French friend who had KFC for lunch and I have no clue where or how to get that? Can we have more variety?
  • Don't be ungrateful! I am in charge of the production, I see fit in what's best for you!
  • A mixed economy is a combination of a command economy and market economy, the people hold some freedoms in this economy, but the government can make some laws and policies that permit certain things--they can also add new policies to limit other things as well.
  • Listen, I get why you're mad but these policies are for your own good. We are just looking out for everyone and deciding certain things that are best for them! It's not like we're controlling EVERYTHING! 
  • Those are the four economic systems! Thanks for reading!
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