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- Intro
- The Different Economies
- I know that the government sets goals to meet and it produces goods and services!
- Command Economy
- The government also picks who gets the goods.
- Now that we are here, we are going to learn about the command economy! What do we Already know?
- They produce goods when the government wants it at that time!
- we know that a command economy is where everything is decided by the government
- They produce goods by following the tradition that was set by their ancestors!
- Traditional Economy
- They distribute products based on age, and they share their products equally!
- A traditional economy produces food, clothing, shelter, and tools for survival.
- Hello clas! Today we will be learning about the different types of economies.
- Mixed Market Economy
- The government is partly involved on who gets the products
- A mixed economy is kinda like all these different colors and type of cars. What all do yall know?
- The whole gifted class went on a feild trrip to one of the many government buildings to talk about the command economy.
- Market Economy
- A market economy is an economic system where prices and production are determined by a competition between privately owned businesses.
- The wants of the consumers and producers decide what will be produced.
- The class all came up with the answers to the 3 economic questions.
- GoodBye (for now)
- Just like Russia, Germany is also closer to a command economy today.
- Today, Russia is now closer to a command economy.
- The teacher compares a mixed market economy to all the different types and colors of the cars in the parking lot.
- I know that a mixed market economic system produces public goods.
- They maintain private ownership of production with the government
- The teacher took the class on another feild trip. This time, to the Farmers Market!!
- They use supply and demand
- A market economy produces for entrepreneurs.
- Which country is closer to which economy?
- On the other hand, The UK is closer to a market economony.
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