Dude , we have been stuck on this island forever! what should we talk about?
Types of economies and 4 principles of capitalism.
Dude lets talk about the different economies and the 4 principles of capitalism
well that is kinda boring, but whats the fist one?
uh... dude, why is that clam shell talking.
Oh man! i cant remember
Hey i know, its traditional, the system of the ecomonies that is the oldest.
Whats another one?
No don't be afraid, im just here to tell you that Command is another type.
Idk man... but look at that shark!!!Ahhhhhh
WE MUST HAVE GONE CRAZY
Well, things on this island are getting weird, but the next one is market.
Tony and Nathan have been stuck on this island for a long time under the sun and have run out of ways to occupy themselves. They have also gone a little crazy from no food, no fresh water and from being stranded under the sun for so long.
Oh yeah, that economy can be seen in Canada and Germany.
Traditional economy is the system in which traditions, customs, and beliefs help shape the goods and the services the economy produces, as well as the rules and manner of their distribution. Places like Africa and South Asia, use this type of economy.
There is, but i forgot what it was....
Command is a type of economy that the government owns and controls the resources. The there economic questions are used by the government. Command is seen in places like North Korea.
The 4 principles of Capitalism
Hey boys i'm here to save you!
Thank gosh he rescused us!
Yeah but there is still more to talk about on the ride home
In a Market economy the resources are owned and controlled by the people of the country. There is little government intervention or central planning.
Hey, don't forget that it is used in Mexico and the US
Mixed economy is a mixture of command and market, it was the mix of private and public enterprise. You can see this economy ranged from United States to Cuba.
I think there is one more left...
It is called mixed economy.
Oh look!!!! a rescue boat!
The cost gaurd found Nathan and Tony after a week of searching for them. On the ride back to town in the rescue boat they will talk about the 4 principles.