4 Economic Systems

4 Economic Systems

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  • ALL MINE!!
  • Traditions, customs, and beliefs help shape the goods and services the economy produces. In a traditional economic system, we only produce what is needed. This economic system is much more sustainable, low amount of production results in less waste.
  • McDonald's
  • The government controls large parts of all economic activities. The exact demands of a society can be met. The government control mostly valuable resources.
  • Mixture of market and command economy. Both private and government sectors can't maintain the economy alone, they're both important. Some governments tend to increase their power more than necessary.
  • In a market economy, the entire system is ran by the people. It allows an economy to experience the highest amount of growth among all 4 economic systems. The government isn't involved in the economy and doesn't control any resources. Private actors become extremely powerful.
  • Ray Kroc
  • George Yang
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