Economics Comic Stript
Storyboard Text
- 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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