Economic Systems Hauwa
Storyboard Text
- Most economic decisions are governed by customs or beliefs. Practiced in villages around the world.
- Economic Systems: Traditional
- Governed by supply and demand, has free enterprise, and lets individuals make decisions. Most resources owned by private citizens. Practiced in capitalist countries.
- Economic Systems: Market
- The government makes all decisions and sets all prices. All sellers must meet quotes. Practiced in communist countries.
- $100
- Economic Systems: Command
- $100
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