Economy by Destiny Mancini

Economy by Destiny Mancini

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Storyboard Text

  • What is economy?
  • An economy is the method used by a society to produce and distribute good and services.
  • Our first economy is a Traditional Economy. A Traditional Economy is where people specialize in one good or service then trade and barter goods.
  • I will give you one banana for nine berries.
  • I think we should make the price for hair cuts and water bottles higher by tonight.
  • A command economy is when the government makes all the decisions on goods and services.
  • I like that idea.
  • A market economy is a free system controlled by supply and demand.
  • Yesterday my friend and I had a lemonade stand but we had to stop early due to lack of supply.
  • Due lack of demand we should speak with the company of those cameras and we should lower the price.
  • A mixed economy is a system that uses charateristics of market and command.
  • I hope you enjoyed learning about the four types of economy
  • I also hope this helps you remember the four different types of economy which are, traditional, command, market and mixed.
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