Economic Systems by Ferraz, Antonio - 0719378 https://padlet.com/0719378/4opagun6x300y25q Antonio Ferraz Period6 en-us 2021-05-26 18:39:12 UTC 2021-06-02 20:01:55 UTC hello@padlet.com Market Economy 0719378 https://padlet.com/0719378/4opagun6x300y25q/wish/1569383445 Economy in which most of products and services are owned by the people and they are distributed by using currencies, which is controlled by supply and demand.]]> 2021-05-28 18:30:44 UTC https://padlet.com/0719378/4opagun6x300y25q/wish/1569383445 Traditional Economy 0719378 https://padlet.com/0719378/4opagun6x300y25q/wish/1569393420 Economy that is controlled and relied by customs and tradition. People barter instead of using money. ]]> 2021-05-28 18:34:22 UTC https://padlet.com/0719378/4opagun6x300y25q/wish/1569393420 Command Economy 0719378 https://padlet.com/0719378/4opagun6x300y25q/wish/1569394363 Economy in which the central government controls what is to be produced, how it is distributed and how it is produced. ]]> 2021-05-28 18:34:43 UTC https://padlet.com/0719378/4opagun6x300y25q/wish/1569394363 0719378 https://padlet.com/0719378/4opagun6x300y25q/wish/1580516241 Traditional economies usually are based on the ancestor's experiences, which are used to guide someone to their every day life working.]]> 2021-06-02 19:05:41 UTC https://padlet.com/0719378/4opagun6x300y25q/wish/1580516241 Advantages 0719378 https://padlet.com/0719378/4opagun6x300y25q/wish/1580559397 - There is no friction between members
-Everyone knows and understands their roles
-More sustainable compared to a technology-based economy.]]> 2021-06-02 19:23:52 UTC https://padlet.com/0719378/4opagun6x300y25q/wish/1580559397 Diadvantages 0719378 https://padlet.com/0719378/4opagun6x300y25q/wish/1580564855 - Nature can affect the economy negatively
- Vulnerable to other economies that use their resources. ]]> 2021-06-02 19:25:58 UTC https://padlet.com/0719378/4opagun6x300y25q/wish/1580564855 0719378 https://padlet.com/0719378/4opagun6x300y25q/wish/1580578022 An example of a traditional economy failing would be the Confederate States of America's economy, which was entirely a traditional one. This was one of the factors that led to its defeat by the north]]> 2021-06-02 19:31:40 UTC https://padlet.com/0719378/4opagun6x300y25q/wish/1580578022 Advantages of Command Economy 0719378 https://padlet.com/0719378/4opagun6x300y25q/wish/1580583738 -Equality
-More employment
-Decisions for the Common Good]]> 2021-06-02 19:34:16 UTC https://padlet.com/0719378/4opagun6x300y25q/wish/1580583738 Disadvantages of Command Economy 0719378 https://padlet.com/0719378/4opagun6x300y25q/wish/1580587967 -No innovation
-Not efficient]]> 2021-06-02 19:35:55 UTC https://padlet.com/0719378/4opagun6x300y25q/wish/1580587967 Advantages on Market Economy 0719378 https://padlet.com/0719378/4opagun6x300y25q/wish/1580603453 -Efficient
-Innovation
-Encouraged economic activity
-Freedom
-Private property]]> 2021-06-02 19:42:45 UTC https://padlet.com/0719378/4opagun6x300y25q/wish/1580603453 Disadvantages on Market Economy 0719378 https://padlet.com/0719378/4opagun6x300y25q/wish/1580609467 -Competition
-Poor are less likely to become wealthy
-Inequality]]> 2021-06-02 19:45:32 UTC https://padlet.com/0719378/4opagun6x300y25q/wish/1580609467