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Economics Comic Stript

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Economics Comic Stript
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  • no i didn't tell me more!
  • Hey bro did you know A traditional economy is a system that relies on customs, history, and time honored beliefs.
  • Oh cool, so what do they produce?
  • In this type of economic system, many traditonal societies focus on producing the basic nescessities like, food, clothing, shelter, and tools needed for survival.
  • Oh yes that's cool
  • Many traditional economies make their own clothing from animial and plant materials. Food is produced by traditional methods of agriculture, or by hunting, fishing and gathering
  • For whom?
  • Some Traditional cultures share goods equally amoung all memebers. Others distribute goods based on age, rank, or social status
  • What about Command Economy
  • In a command economy also called a planned economy aims to use the nations resources to benefit the country.
  • What are the resources?
  • The government makes a detailed plan about which products (Good and services) are needed for the country.
  • Really so How?
  • The government basiclly owns all businesses and resources. It decides how products will be made and who will make them
  • She can explain more.
  • The government also decides who gets the products and how much of each product each person can have.
  • So for Whom?
  • But what about Mixed marketing
  • In a market economy, the wants of the consumers and the profit motive of the producers will decide what will be produce.
  • what does marketing produce
  • Buyers decide what goods and services should be prouduced. They do this through the purchases they make in the market.
  • So how does that work?
  • Businesses decide which resources to use. who to employ and how to produce goods at the lowest cost and sellfor the highest profit.
  • OK who does they produce for?
  • The price of goods in the market determines who buys them. People are willing to pay a higher price for goods and services they really want.
  • mixed economy, in economics, a market system of resource allocation, commerce, and trade in which free markets coexist with government intervention.
  • what does mixed marketing porduce
  • The goverment owns the country's land, factories, and businesses. The goverment may own entire industries that are vital to the country's economy
  • how do u produce
  • The government controls the price of certain goods. It may also set limits on how much of a good or service can be produced each year
  • who does all of this goes too
  • The government collectshigh taxes to provide many public goods and services to its citizens.
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