Business Story Board

Business Story Board

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  • Command Economy
  • Absolutely not! I will tell you who you can play with and when/where you can play!
  • Hey mom can I go outside and play with my friends?
  • No Fun!
  • Command Economy
  • Did I tell you that you can read? Go to your room! You need to be at the dinner table by  6:00 or you're not eating!
  • .....
  • Freedom of Choice 
  • I'm going to read my book even if I get in trouble!
  • A command economy is an economy in which resources are owned and controlled by the government. 
  • Mixed Economy
  • Hello class! Today we will be taking the math portion of the MAP test.
  •  An example of this is in North Korea or Cuba.
  • Mixed Economy
  • UGHHH! NOOO!! Another test!?
  • Freedom of choice is when you can make decisions and accept the consequences of those decisions. This helps people choose what they want to do and it gives them many different outcomes depending on the decision they made.
  • Competition
  • Mom...Why are they the same cereal but not the same brand?
  • A mixed economy is an economy that combines the elements of the command and market economies. The government controls state wide tests, such as the MAP test, and public schools, but teachers can give other tests that can see if the student is understanding the material they are teaching. 
  • Places with mixed economies are China, Canada, Russia, Sweden, and the United States.
  • Competition is a rivalry among businesses to sell which encourages improved products and practices. This is beneficial to customers because they can get the best products at the lowest prices.
  • One of the cereals is off- brand which means it's cheaper than the name brand kind. 
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