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Notes on " The 4 Types"
Desean Robinson
5
English
11th Grade
02/29/2016

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Cards

Term

Gemma     1-2     Traditional Emonomic System

Definition
  • Traditional Economic System is about traditional and ancient economies on the earth.
  • Traditional economies produce services that is customs, traditions, and religion.
  • Traditional economies profit or surplus that results from market or mixed economy. 

 

Term

Gemma     1    Traditional Emonomic System

Definition
  • Advantages And Disadvantages
  • Each member of a traditional economy has more specific societies and are also knite.
  • Western medicine, centralized utilities, technology,and etc.
  • America can attest do not give you happieness, peace, social or, economic stability.
Term

Gemma     2    Command Emonomic System

Definition
  • Economic advancement, the command economic system is the next step up from a traditional economy.
  • Centralized Control is the most notable feature of a command economy is that a large part of he economic system is controlled by centralized power.
  • Hand In The Cookie Jar is the government in a command economy only desires to control its most valuable resources.
Term

Gemma     3    Command Emonomic System

Definition
  • Market Economic System
  • A market economy is similar to a free market.
  • Government do not control vital resources or valuable goods.
Term

Gemma     4    Mixed Emonomic System

Definition
  • A mixed economic system is primarily refers mixture of a market and command economy.
  • Benefits Of A Mixed Economy is the most common types of mixed economies, the market is more or less free of government ownership except for a few areas.
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