Geography StoryBoard Project
Storyboard Text
- There are four different types of economic systems that goes on in our every day lives. I am here today to teach you about every one of the systems and help explain how they all function.
- This working zone is an example of a mixed economy system. A mixed economic system combines market and command economy together, which means that some working places are owned by the government while others can be determined by the market.
- This healthcare facility is an example of a socialist economy system. The reason this location is a socialist economic system is because the government owns healthcare facilities rather than individuals themselves. This stays the same for businesses, factories, etc.
- This farm is an example of a traditional economy system. A traditional economic system makes decisions based on who, how, what, and whom questions. Traditional economic systems relies on tradition and makes their own food. They can get their food by farming, hunting, fishing, etc. Subsistence agriculture is very similar to this lifestyle.
- This is land that people invest their money on to make profit off of, this is an example of a capitalist economy. Two ways that people make profit off land is by using commercial industry and commercial agriculture. Commercial Industry is when products are manufactured and sold overseas or countries. Commercial agriculture is when farmers grow food on the land and sell it to others to make profit of their own.
- Due to all of this economic systems happening in the world, human development index goes up everyday without realizing it. Its always good to be aware of what economic are around you and they are very important to learn about.
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