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The disadvantages of a traditional economy is that they are exposed to changes in the nature and strange weather patterns which can affect the harvest growth and they are vulnerable to the other economies since they use up all their natural resources.
"This picture is showing that it's not good and putting negativity."

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In societies that have a traditional economy depend on agriculture, fishing, hunting and farming. This economy also uses barter instead of money which is to trade their goods directly rather through money.
"The illustration is demonstrating an example of barter and how they exchange resources."

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Examples of Traditional Economy Countries

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Examples of Traditional Economy Countries

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Some examples of countries that have a Traditional Economy is Eskimos (Alaska) and the Amish (Pennsylvania).
"This is a place in Pennsylvania."

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The government does not involve itself in a traditional economy because it doesn't apply to the individual's customs or beliefs.
"This picture shows that there is government just like in a traditional economy."

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The traditional economies decisions are based on their cultural values and beliefs. For example, their children will work the same jobs as their parents like farming or hunting.
"In this picture, it shows a man farming."

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Their economic questions are always answered by habit and customs. Future generations will work the same job as older generations.
"Shows and states examples of Characteristics of a traditional economy."

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Over time, economists and anthropologists have expected that traditional economies will evolve market, command or mixed economies in which several traditional economies had evolved into a mixed type with different elements.
"Demonstrates that at the start, you will evolve to something new and successful."

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The advantages of a traditional economy is that there is little or no friction between members, everyone is fully aware of their role and contribution and it's more supportable than a technology-based economy.
"The picture shows that since it's a positive thing and helps."

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It's an economic system that relies on their own customs, history and time-honored beliefs.

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The government's involvement in important in this economy because they determine what should be produced, how it should be produced and how it is distributed.
"What to Produce, How to Produce and For Whom to Produce: Government Preferences."

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The advantages of command economy revolve around the low levels of inequality and unemployment, as well as, the common good replacing profit as the primary production.
"Examples of Advantages in the Command Economy like health care and free education."

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A central government makes all economic decisions. It does not rely on supply and demand that operate in market economy. In addition, it also ignores the customs that lead a traditional economy.
"Government Influence in Command Economies."

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The disadvantages of command economy revolve around the lack of competition and lack of efficiency. This is because lots of critics argue that there is less competition which hinders innovation. As well as efficiency because they earn low profits or have to raise prices to meet expenses.
"This picture shows disadvantages of the command economy like meant for needs and not wants."

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In the command economy, some examples of countries who practice this are China, Vietnam, North Korea, former Soviet Union, and Cuba.
"Countries with Command Economy as stated above."

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The employment for the command economy is that the individuals themselves can't choose what wages or job duties they get, instead the government does to ensure equality against people.
"Government gives the people in a command economy jobs as they see fit."

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Government Regulation on some business practices (Ex: wages). Government limits certain choices (Ex: can't buy or produce types of goods). Government provides aid to the needy (Ex: Medicare).
"Demonstrates the Characteristics of Command Economies like deciding certain things."

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Unlike the market economy, the command economy does not follow private ownership because the government decides what the price will be for goods and supplies, as well as, what we need to support ourselves instead of what we want.
"Government sells what we need in daily life instead of want."

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It's an economic system in which a centralized government controls the means of production.

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Article 1, Section 8: protects innovation as property by a copyright clause. Article 1, Section 9 and 10: prohibits states from taking each other's goods and supplies to protect free enterprise and the freedom of choice. Amendment IV: it protects private property and limits the government's powers from unreasonable searches and seizures.
"Preserve, Protect and Defend: Constitution's oath"

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In the market economy, the competition would drive it as it advances in efficiency and innovation. The role of government is very limited so it allows private ownership to determine the business decisions which would lead to greater productivity.
"Competition between three shoe stores."

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1. It ensures that the most wanted goods and services are produced since consumers are willing to pay a high price for what they want the most. 2.The goods and services are produced in a efficient way. 3. Lastly, is that the successful businesses will invest in top-notch companies which will increase quality of production.
"Demonstrates the Advantages as Economic Efficiency, Economic Freedom, Economic Growth and Additional Goods."

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The worth of the resources that are being exchanged depends on uncommon each of the resource is and how many people would want the resource.
"Low supply + High Demand = High price.
Low demand + High supply = Low Price."

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1. There is a competition, but it has no type of system in which the people with disabilities can be taken cared of. 2. This would lead to their own caretakers being exhausted of watching over them and not competing. 3. The human resources of systems may not be advanced. 4. In society, they reflect the standards of the winners in that they want to build private ships when we could provide for the vulnerable.
"Shows the Disadvantages of this economy as well as people losing their jobs and poverty not being able to participate."

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The government involves itself in the affairs of the market economy to make sure the rules are followed and applied fairly to the people very limitedly.
"Stating on Proving a Legal System, Public Goods and correcting Market Failures."

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The market economy is featured by private property (right to have own property), self-interest (decisions that benefit themselves), economic freedom (right to choose), competition (more than one producer insures choice), voluntary exchange (freely buyand sell supplies/goods) and profit motive (desire to make profit).
"Represents the Features mentioned above of the Market Economy"

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Citizens in the community exchange their own resources like people give money for supplies they need in their life.
"Buying and Receiving Goods and Supplies"

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It's an economic system that in which the decisions referring investment, production and distribution are being lead by price signals by forces of supply and demand.