https://padlet.com/0563124/141g6r1uwqh3i1sy Sofia Abril Period 2 en-us 2021-05-28 15:03:39 UTC 2024-11-08 10:47:28 UTC hello@padlet.com 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568750373 2021-05-28 15:06:02 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568750373 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568751081 2021-05-28 15:06:15 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568751081 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568751689 2021-05-28 15:06:28 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568751689 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568757864 market economy is an economy where most of the resources are controlled by the government ]]> 2021-05-28 15:08:23 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568757864 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568765142 Eventually since everyone is competing it will lead to efficiency because businesses that have fewer costs on their products will be more competitive and will earn more profit. ]]> 2021-05-28 15:10:36 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568765142 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568777261 There is also a large variety of goods are available as businesses will try to differentiate themselves from others. ]]> 2021-05-28 15:14:11 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568777261 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568787715 2021-05-28 15:17:23 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568787715 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568790846 Poor working conditions can result due to a lack of government regulations because health and safety cost a lot of money, which results in reducing profits]]> 2021-05-28 15:18:20 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568790846 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568800288 There is a freedom of individual choice such as developing a business, and purchasing goods and services (as long as you can afford them) ]]> 2021-05-28 15:21:16 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568800288 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568813564 Supply includes: natural resources, capital, and labor. Demand includes: purchases by consumers, businesses, and the government. ]]> 2021-05-28 15:25:27 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568813564 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568824252 Since a market economy allows the free flexibility of supply and demand, it ensures that the most desired goods and services are produced. Consumers are willing to pay the highest price for the things they want the most. Businesses will only create those things that return a profit.]]> 2021-05-28 15:28:45 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568824252 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568839439 United States, Western Europe, Japan]]> 2021-05-28 15:33:32 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568839439 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568860103 Eskimos (Alaska) and the Amish (Pennsylvania) ]]> 2021-05-28 15:39:28 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568860103 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568862584 Children work the same jobs as their parents, often farming or hunter/gathering]]> 2021-05-28 15:40:10 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568862584 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568865499 Communist countries such as: China, Vietnam, North Korea, former Soviet Union, Cuba]]> 2021-05-28 15:41:02 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568865499 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568869229 a command economy government can set wages and job openings to create the unemployment rate and wage distribution that it sees fit.]]> 2021-05-28 15:42:11 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568869229 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568871666 Inefficient, no incentive to work hard or be creative. ]]> 2021-05-28 15:42:56 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1568871666 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1576288973 Traditional economy is one that relies more on culture, customs and local history than dollars, cents, profits and losses]]> 2021-06-01 13:46:26 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1576288973 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1576299415 A traditional economy doesn't depend on a single currency. Instead, it relies on a system of barter and trade.

]]> 2021-06-01 13:49:24 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1576299415 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1576301718 2021-06-01 13:50:03 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1576301718 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1576304601 A traditional economy doesn't pollute the environment, instead it keeps their living environment clean. ]]> 2021-06-01 13:50:50 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1576304601 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1576312154 Traditional economies also create an environment where each member of the community is aware of the stakes involved, and well aware of the role they play in contributing to a traditional economy]]> 2021-06-01 13:52:55 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1576312154 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1576324316 2021-06-01 13:56:15 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1576324316 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1576325195 A traditional economy isn't as efficient as a market economy, which has a significantly stronger track record of success in guaranteeing a good quality of life for society members]]> 2021-06-01 13:56:29 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1576325195 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1576328548 In a traditional economy there are fewer career choices. Roles are handed down from generation to generation. If your father was a hunter then you are a hunter. ]]> 2021-06-01 13:57:27 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1576328548 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1576347658 A command economy is where the government owns all resources, sets prices, and tells businesses what and how much to make — all, theoretically, to maximize the population’s welfare.]]> 2021-06-01 14:02:56 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1576347658 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1576353936 If there is ever an emergency, like natural disasters or wars. The government will provide resources ]]> 2021-06-01 14:04:44 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1576353936 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1576360998 The government decides prices in a command economy. They are not influenced by demand, supply, or any other factors. So, the government does not look to make a profit, so, everything is usually affordable though low quality goods]]> 2021-06-01 14:06:38 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1576360998 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1576366153 The lack of competition in command economies impedes innovation and keeps prices from resting at an optimal level for consumers.]]> 2021-06-01 14:08:06 UTC https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1576366153 0563124 https://padlet.com/0563124/141g6r1uwqh3i1sy/wish/1576382719 Production in command economies is notoriously inefficient as the government feels no pressure from competitors or price-conscious consumers to cut costs or streamline operations.

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