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Economys (Command economy (nn_ami_un_north_korea_eport_190311_1920x1080…
Economys
Command economy
there is no choice and no competition
government owns everything
government decides everything
north korea
Mixed economy
government makes decisions for the public sector
people make decisions for the private sector
economic decisions are shared
most countries are mixed
for indivisuals by buisnesses and government
Traditional economy
this economy stays the same and does it the way it always has been done
do the same work as their parents and grandparents
families decide who gets what
amazon rain forest
Free market economy
everything is about compitition and is owned by private indivisuals
forces supply and demad to decide who wins
none of them exist
no goverment involvement
