Come with us as we travel the world and view the 4 different types of economies.
North Korea
United States
The United States white house
On this vacation we will be traveling the world and seeing different countries types of economies.
Canada
Canadas Niagara falls
Our first stop is North Korea. North Korea is a command economy. This means the government owns and controls the resources. The government also owns basically all of the businesses.
Haiti
The United states is a market economy. This means the people own and control the resources. Businesses are owned by the people and all the profit made by the business the owner receives
Going Home
I hope you all enjoyed and learned something.
Canada is mixed economy. It is a mix of command and market economies. So they government owns the resources but the people produce products.
Our last destination is Haiti. Haiti is a traditional economy. So the people of Haiti produce goods and services like they always have.