Today we are teaching and informing you about the four types of economic systems in our world Mixed, Traditional, Market, and Command
Have you ever wondered what are economic systems
Well today my buddies and I are going to teaching you guys about economic systems and how they work.
First off their is four types of economic systems Mixed, Market, Command, & Traditional.
First we have Command Economy. Command economy is where the government controls everything and citizens have no control next up we have mixed and market
Next up we have a two in one my with my brother. He will be explaining market economy while I will be mixed economy. Market Economy is where the citizens control everything for example the price range of items. Mixed Economy is where some of the government controls some and citizens control some.
Finally we have traditional economy. Traditional is where people trade with each other instead of using grocery stores. For example The Inuit tribe. Well that's all for today I hoped you learned from this bye.