Updated: 2/11/2020
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Storyboard Text

  • OMG!! An Alien.Whats your name
  • Sure I can teach you lets start with Mixed Economy.
  • My name is SSJSH. I come to earth to learn more about your 4 types of Economies. can you teach me
  • this here is the U.S. We are considered a mixed economy because we leaves ownership of the means of production in mostly private hands
  • yes thats right. sometimes this can cause opportunity cost which can cause the loss of potential gain from other alternatives
  • So mixed economy is a private and and public enterprise?
  • here we have traditional economy. this business is a example of traditional economy because it is a way the owner and his family have made there money
  • yes which is why this business is a perfect example. this hair shop has been here sense the 90s and and it is a tradition to keep it open by passing it down each generation so they can keep making money
  • but isn't traditional economy customs, and beliefs help shape the goods and services the economy produces?
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