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Cuba, North Korea, and the former Soviet Union are some command economies.

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The leader of North Korea is Kim Jong Un and he controls all actions of the country.

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In a command economy the government is in charge of all actions of citizens.

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Citizens must listen to everything the government says.

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They control how much a business can sell and how much they can make.

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In a command economy businesses make less money than Market and Traditional Economies

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The government controls food and the time the food will be served.

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In a command economy they control how much media you can see and what type of media.

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Traditional economies can be negatively affected by other economy types that use large amounts of natural resources. This affects the food that eat and make.

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The Amish are only one of the types of religions in a traditional economy. The Amish ride in horse carriers and eat and make olden day food.

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They do not use cars or modern day items. Or eat modern day food.

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Traditional Economies fear change. They do not want any new items. They prefer to do most things themselves.

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Some examples of traditional economy religions are, The Amish, Eskimos, and the Bush people

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Citizens of a traditional economy don't use technology like what everyday citizens do.

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Instead of acting like normal citizens and advancing in life, the citizens of a traditional economy do not evolve. Instead they stay in the past

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A traditional economy is one that does not have the same life-style as normal citizens.

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The job of government is to make sure that the markets are efficient and developing.

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The products will meet the consumers needs in the best way.

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The goods companies need come in the most efficient way.

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Market Economy is characterized by freedom of choice and self-interest.

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Competition encourages the economy to amp up efficiency.

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Owners are free to choose what they want to sell and what price to sell it for.

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Supplies have natural resources,
capitol and labor.

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The market economy functions with the laws of supply and demand.

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Lynchburg Business Magazine - A magazine devoted to Lynchburg-based businesses

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A magazine devoted to Lynchburg-based businesses