Types of economies
Storyboard Text
- Rachel decided today that while in France she would visit the Eifel Tower! Frace is a mixed economy meaning they have some components of a command economy and other of a market economy. For example, the baguette she bought from the bakery was privately owned and prices were set by the bakery owner. However, France does have government programs as fell as government-funded businesses.
- For the final destination of Rachel's tour around the world to learn more about the different economies, she is in Brazil! Brazil's economy is traditional meaning goods are produced the same way they have always been produced. Rachel was gifted a handmade quilt made by a woman who has been selling her quilts for 50 years. Most goods in Brazil are exchanged with neighbors and have been made the same way for many years.
- Rachel had a great time traveling the world to gain insider knowledge on how different economies in the world work, however, she is definitely excited to get home and tell her family and friends about the trip!
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