Traditional, Command ,and Market Economy

Traditional, Command ,and Market Economy By: Shanda Piccola Strong

GEORGIA STANDARD SS6E5.a Compare how tridional,command,and

market economies answer the question of 1-what to produce 2-how to produce 3 –for whom to produce.

Traditional Economy What: An underdeveloped economy in

which communities use primitive methods to harvest and hunt for food. How :The communities use primitive methods to hunt and harvest food For whom: For the people who live in rural regions with high levels of subsistence farming.

Command Economy What: an economy where supply and price

are regulated by the government rather than market forces. How: Government planners decide which goods and services are produced and how they are disturbed. For whom: To whom is to the former Soviet Union was an example of Command economy.

Market economy What: A system of allocating recourses

based only on the interactions of market forces such as supply and demand. How: They do this based on interactions of market forces. To whom: This goes to all the people who use supply and demand who has a market economy.

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