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- Slide: 1
- Command Economy
- Today well see how our bakery would run under different economies
- Sweet! I hope we get to make cookies
- Slide: 2
- Command Economy
- In a command economy, I make all the decisions. You can only bake plain bread
- But the customers wanted cookies
- Slide: 3
- Command Economy
- (whispering) This is boring
- Don't you have anything else?
- Command =Authority decides fewer choices
- Slide: 4
- Market Economy
- Ill pay $7 for cookies!!
- Whoa, they're telling us what to make!
- Ill pay $5 for cupcakes!!
- Slide: 5
- Market Economy
- Market= Choices, but prices can be high
- Everything is too expensive now.....
- yes1 Cupcakes for me!
- Jamari
- Slide: 6
- Mixed Economy
- In a mixed economy, there are some rules, but you still get choices.
- So... we can bake what people want , but safely?
- Slide: 7
- Mixed Economy
- This feels fair.
- Yay, variety and safe food!
- Mixed= balance of rules and freedom
- Slide: 8
- comparison / Command
- Command economy - met safety goals , but no variety or freedom
- Ms. Lu
- Slide: 9
- Comparison- Market
- Market economy -lots of choice but not everyone's needs are met.
- Slide: 10
- Conclusion- MIxed
- Exactly that's economics in action
- So no system is perfect but mixed economies try to balance both!
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