https://padlet.com/0535358/c3ljxp8l1p3kqc0v Deandre Palacios P6 en-us 2021-05-26 18:39:34 UTC 2021-06-02 19:59:02 UTC hello@padlet.com 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580463889 2021-06-02 18:44:05 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580463889 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580470685 An economy where the resources are mostly owned by individuals, and works by the interaction between supply and demand]]> 2021-06-02 18:46:43 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580470685 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580481192 2021-06-02 18:50:48 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580481192 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580484035 People exchange currency for either services or resources on a daily basis through voluntary actions]]> 2021-06-02 18:51:59 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580484035 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580486374 2021-06-02 18:52:59 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580486374 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580499829 A good representation of a market economy]]> 2021-06-02 18:58:36 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580499829 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580503800 People waiting in line to buy food]]> 2021-06-02 19:00:22 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580503800 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580507074 This means that if there is a low supply but high demand the product will cost more, and if there is a high supply but low demand the product will be cheap]]> 2021-06-02 19:01:47 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580507074 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580515088 2021-06-02 19:05:15 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580515088 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580519324 Ps5's are known to be quite rare leading them to be sold by flippers for more than there normal cost]]> 2021-06-02 19:06:56 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580519324 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580529817 Though businesses are owned by individuals, the government can still control things like enforcing the rules of the market to make sure it's applied fairly to all applicants ]]> 2021-06-02 19:11:05 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580529817 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580554235 2021-06-02 19:21:33 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580554235 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580562635 2021-06-02 19:25:00 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580562635 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580565809 A system based on custom, religion, and beliefs]]> 2021-06-02 19:26:23 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580565809 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580567480 2021-06-02 19:27:07 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580567480 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580570253 This picture shows someone using a cow in order to do some sort of tradition he probably learned from his father as a custom]]> 2021-06-02 19:28:20 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580570253 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580577712 Traditional economy is often based on agriculture, fishing, hunting, and gathering]]> 2021-06-02 19:31:30 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580577712 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580579316 2021-06-02 19:32:16 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580579316 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580581942 In the Philippines for example, gold digging is common place and most teenagers and early adults take up these jobs ]]> 2021-06-02 19:33:29 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580581942 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580585016 Barter and trades is often used instead of money ]]> 2021-06-02 19:34:50 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580585016 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580588075 2021-06-02 19:35:58 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580588075 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580589678 This is what a common place trade in a traditional economy would look like]]> 2021-06-02 19:36:40 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580589678 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580596181 Because of the small circle due to most of traditional economies being poor, their is rarely more supply than demand]]> 2021-06-02 19:39:33 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580596181 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580598677 2021-06-02 19:40:38 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580598677 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580601617 Since it takes long for food to grow, the amount being sold would be the only ones in stock]]> 2021-06-02 19:41:58 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580601617 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580616542 Government in a meeting ]]> 2021-06-02 19:48:50 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580616542 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580619412 is a system where the government, rather than the free market, determines what goods should be produced, how much should be produced, and the price at which the goods are offered for sale]]> 2021-06-02 19:50:12 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580619412 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580621048 A good diagram explaining command economy]]> 2021-06-02 19:50:59 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580621048 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580622866  It also determines investments and incomes]]> 2021-06-02 19:51:52 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580622866 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580624495 Stocks is a good representation for investments and incomes]]> 2021-06-02 19:52:40 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580624495 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580626347 2021-06-02 19:53:29 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580626347 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580628372 advantages include low levels of inequality and unemployment, and the common good replacing profit as the primary incentive of production]]> 2021-06-02 19:54:28 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580628372 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580631910 An advantage]]> 2021-06-02 19:56:11 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580631910 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580632755 2021-06-02 19:56:34 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580632755 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580633597 disadvantages include lack of competition and lack of efficiency]]> 2021-06-02 19:57:01 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580633597 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580636100 2021-06-02 19:58:08 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580636100 0535358 https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580636934 One of the main disadvantages for command economy is it's inefficiency ]]> 2021-06-02 19:58:34 UTC https://padlet.com/0535358/c3ljxp8l1p3kqc0v/wish/1580636934