Shared Flashcard Set

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The 4 types
Kassius Nelson
5
English
11th Grade
02/29/2016

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Cards

Term

Gemma 1-2       Traditional Economis System

 

  • Acient
  • Economies produce due to beliefs morals and customs
  • Profit is not very much
  • Nothing is wasted
  • Tradition and custom is preserved.
  • Closely knited to society.
Definition

Gemma 2-3       Command Economic System

 

  • Next step from traditional economy
  • Controlled by centralized power often government
Term

Gemma    2-3   Command Economic System

  • Controled by a centrol Goverment
  • creates its own resourses
  • mostly communist Governments 
Definition
Term

Gemma 3-4   Market Economic System

  • Very similar to a free market economy
  • capitalism
  • seperation of market and goverment
Definition
Term

Gemma 4-5    Mixed Economic System

  • Mixture of market and comand
  • suffer fom downfalls in economy
Definition
Term

Market Economy is the best

  • They run off of money 
  • one can have their own business in this economy
  • their is no real ties between the economy and the Market world
Definition
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