Omamus' Storyboard

Omamus' Storyboard

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  • Command Economy
  • Red house. 3 bedrooms, 2 bathroom.
  • Welcome, you get many choicse because everything is provided for you
  • Blue house. 3 bedroom, 2 bathroom.
  • Market Economy
  • Hello, because there is only 100 magazines and 1000 people on the line, the prices will unfortunately go up. 
  • Mixed Economy
  • In a mixed economy, the government controls some things, but not everything. Somethings are decided by the consumers. 
  • In a command  economic system, the government controls the production, prices, resources of goods and services. Unfortunately it does not meet the needs or wants of consumers. This economic system also discourages innovation and private ownership. This can be seen in modern day China. A disadvantage is that the government controls everything. 
  • Traditional Economy
  • In a market economy there is more economic freedom to individuals. It encourages competition and limits the role of government (laissez faire). Goods, services, and prices are determined by supply and demand. A disadvantage of is the possibilities of monopolies is high. 
  • A mixed economic system is a mixture of both a market and command economic system . There are characteristics of socialism and capitalism. Production is determined by the government and consumers. A disadvantage is that poverty can be pretty high among the civilians.
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