Traditional, Command, And Market Economies
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COMMAND, AND MARKET ECONOMIES. BY: TAYLOR, EBONI, RAKIRA, NARIA, ELIZABETH, AND ANTWYONA. Created on: Friday October 2, 2009
Traditional Economy Traditional economies are based on tradition and religion. It can also be based on inheritance. Everyone has a role to play in society. Things are made and sold locally.
Command A command economy is planned by the government. People also call it a planned economy. The government decides what to sell, how to make it, and how to distribute it. The government is the final authority to deciding how things are done.
Market Economy A market economy is based on consumption. The trading and exchanging of goods and information takes place in a free market It is also known as a free economy. It is called this because everything is done freely.
Bibliography www.economywatch.com www.wikipedia.com www.investorwords.com Thank you for watching our PowerPoint
Traditional Economy Traditional economies are based on tradition and religion. It can also be based on inheritance. Everyone has a role to play in society. Things are made and sold locally.
Command A command economy is planned by the government. People also call it a planned economy. The government decides what to sell, how to make it, and how to distribute it. The government is the final authority to deciding how things are done.
Market Economy A market economy is based on consumption. The trading and exchanging of goods and information takes place in a free market It is also known as a free economy. It is called this because everything is done freely.
Bibliography www.economywatch.com www.wikipedia.com www.investorwords.com Thank you for watching our PowerPoint
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