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Economies of The World

Economies of The World. By Alex Ment. Also know as planned economy The government is in control of economy Emphasizes collective benefits No competition between business Government utilizes final product and distributes revenue More stable; least affected by inflations

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Economies of The World

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  1. Economies of The World By Alex Ment

  2. Also know as planned economy • The government is in control of economy • Emphasizes collective benefits • No competition between business • Government utilizes final product and distributes revenue • More stable; least affected by inflations • Examples are China, Cuba, and North Korea Command Economy

  3. Government rarely engages in price fixing • Resources of country are exploited by citizens • Governed by law of supply and demand • Businesses decide what to produce and the price • Examples are Canada, United States, and Germany Market Economy

  4. Underdeveloped country • Little economic growth • Harvest and hunt for food • Often has agriculture as primary job • Examples Brazil, Papa New Guinea • 400 million indigenous people take part Traditional Economy

  5. http://www.economywatch.com/economy-articles/command-economy.htmlhttp://www.economywatch.com/economy-articles/command-economy.html • http://www.economywatch.com/market-economy/ • http://www.investorwords.com/6709/traditional_economy.html • http://en.wikipedia.org/wiki/File:India_Farming.jpg • https://www.cia.gov/library/publications/the-world-factbook/geos/cu.html • http://hspm.sph.sc.edu/courses/econ/classes/GDP/GDP.html Sources

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