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- Ok comrades, I need you to produce bombs for the government and army because I, Stalin, said so.
- Communism
- Era: 1942
- Sir Yes Sir!
- $44 billion could be used to help with government, but hey, I need money too. It's a deal!
- I develop electric cars for consumer goods. I heard you own a social media platform. How does $44 billion sound?
- Thats a nice tomahawk, I'm willing to trade half of the corn in this basket for it.
- Deal!
- Communism is a command economy, where the government tells the industries what to produce, how to produce, and whom to produce for. As you saw above, I used the Soviet Union as a great example of command economy
- Capitalism is a free market economy where the citizens have the right to create their own businesses and don't need government involvement. They can produce however they want, whatever they want, and can do it for self benefits. Though it might seem like a good thing, the only people who are being benefitted are the successful people.
- Traditional economy is a basic economic system that was formed since the dawn of humankind. It isn't the most efficient, but everyone gets what they want in the end. There is no money but there is items to trade. There is also no government involvement and people trade for their personal benefits . They are free to trade whatever as long as it satisfies the buyer.
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