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Monserrat Campos Period 5 Economic Systems PREZI :!:…
Monserrat Campos Period 5 Economic Systems PREZI :!:
Traditional
HOW TO PRODUCE?
People grow things the same way their ancestors did.
FOR whom TO PRODUCE?
People in the village who need their goods.
WHAT TO PRODUCE?
People follow their customs and make what their ancestors made.
COUNTRIES=
There are no countries that have a full traditional economy.
http://miguelalastairclutario.weebly.com/traditional-economy.html
Market :
FOR WHEN TO PRODUCE?
Economic decisions are based on free enterprise.
COUNTRIES
Australia
United States of America
Singapore
HOW TO PRODUCE?
Businesses decide how to produce goods.
WHAT TO PRODUCE?
businesses base decisions on supply, demand, and free enterprise.
Mixed [Market + Command]
FOR WHEN TO PRODUCE?
CONSUMERS!!!
COUNTRIES
HOW TO PRODUCE?
Businesses, but the government regulates certain industries.
WHAT TO PRODUCE?
Businesses decide what to produce.
Command :forbidden:
HOW TO PRODUCE?
Government decides how to make goods and services.
FOR WHEN TO PRODUCE?
Whomever the government decides to give them to.
WHAT TO PRODUCE?
The government makes all economic decisions, including what is produced.
COUNTRIES
Cuba
North Korea.
BIBLIOAGRAPHY
Social Studies Notebook :pencil2:
www.investopedia.com/ask/.../what-are-some-examples-free-market-economies.asp
https://www.reference.com/world-view/characteristics-traditional-economy-b00578c229bdda01
