Economy by Isaac Martinez https://padlet.com/0545910/fqhfv2gbjxedj43h Made with a curious mind en-us 2021-05-28 18:37:04 UTC 2025-12-02 22:14:56 UTC hello@padlet.com https://padlet.net/icons/png/1f4c8.png Market economy 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1569404590 Most of the resources are owned by the people and are distributed by market transactions (that are voluntary), which is all governed by supply and demand]]> 2021-05-28 18:38:36 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1569404590 Price is dependent on supply and demand 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1569408848 If there is too much of an item in stock, and not enough people want to buy it, the price will be low. On the other hand, if there is not enough supply for the high demand, the price would be raised.

Due to too many Energy 20401 1.2 Volt 3500mAh "C" NiCid Batteries being sold, there are more than the demand needs, so they lowered the price to make sure the demand would buy them]]> 2021-05-28 18:40:27 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1569408848 Government involvement is relatively low 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1569440584 The only things that the government does is ensure that the rules of the market are fair to everyone, and are being followed

The government ensures that profits can be kept, and that the rules are followed, making a balance between both things, only doing enough to make sure the economy is fine]]> 2021-05-28 18:53:08 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1569440584 Prices stay low 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1569465388 due to competition, businesses need to keep the prices low to stay in business, and it ensures that the consumer gets the best deal

if there is a lower deal, they would lower their price to be lower, to make it so that the consumer buys their product, for a better deal
]]> 2021-05-28 19:04:12 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1569465388 It is the owners choice to do whatever they want with their property 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1569484373 If the owner of property wants to make chairs, to sell them to a company, like Walmart. Or if they want to sell tables, as a local business. They could buy movies if they were a collector.

In this image it shows all three choices owners could do, the lady produced the vegetables, she also sells them to customers, and the elderly lady is buying them from her, all of these were choices that they decided to make]]> 2021-05-28 19:11:21 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1569484373 If you are not good at economics, you won't succeed 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1577855106 There is not a safety net in order to protect those that are not skilled in selling or buying, in a market economy, all of the choices are made by the people, and if the people are not informed, they won't be able to make a profit.

The mother bird is throwing the baby out of the nest, if the baby isn't able to fly, it won't survive in the wilderness, just like how someone that isn't able to learn how the economy works, and how to make a profit, will not succeed.]]> 2021-06-01 23:38:08 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1577855106 If you invest time in helping others learn how to succeed in economics, it is likely that you won't succeed 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1577866746 If you put your time in helping someone learn how to succeed, you won't be able to put more time into succeeding yourself, and if you don't put time in it, then you won't be able to be active in the economies competitive advantage (factors that allow a company to produce goods or services better or more cheaply than its rivals. These factors allow the productive entity to generate more sales or superior margins compared to its market rivals,) which also benefits the consumers as well.

The person in the image is simply just standing there, but the person behind him is pointing a gun at him, but the person pointing the gun, is also him, this is used to show that due to his choices, he won't have the time to succeed in the market. 

(I could not find another picture of someone busy (they were all just quotes,) so I thought this would have to make due).]]> 2021-06-01 23:45:38 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1577866746 Someone may not have the resources to succeed in life 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1577890538 If someone were to find the cure for a disease, (maybe like ebola), they might not be able to succeed in getting it to life, because they are too busy working at a Walmart or a Burger King, to provide an income for their family. If you don't have a good income, there is a chance you won't be able to do things to help society, or the economy as well.

this person is working at a cashier job, in many cases (but not all), they do so because they have too, in order to help with familiar, or bills, making them too busy to do other things to help.]]> 2021-06-02 00:00:30 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1577890538 The market economy only has the interests of those that are winning at it 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1577913821 Many times the Economy would shift to build things that only those that are succeeding would buy, and would not care for those that aren't succeeding in life, those who aren't able to do well, are just seen as failures to people, and don't receive any help to improve their situation

These are spikes that are placed under bridges to stop homeless people and beggars from sleeping under them, instead of helping those people in life, so that they could in tern help with the economy, they decided it would be easier to stop them from sleeping in areas where people pass by, so that the city would look like it was successful, and so tourists wouldn't see them.]]> 2021-06-02 00:13:19 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1577913821 Traditional economy 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1577934280 A system of economy that relies on time-honored beliefs, customs, and history. This type of economy depends on agriculture, hunting, gathering, fishing, or a type of combination of them. Instead of using currency, they use barter.]]> 2021-06-02 00:22:59 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1577934280 Because a traditional economy is relies on time-honored beliefs, everyone knows their role in the economy. 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1577950792 The distribution of resources is based on religion and custom. Due to this there is little to no friction in between different members of this economy, everyone knows what they are doing, be it a farmer, weaver, or hunter.

In this picture, every person in this group has to do something different in order to make sure what they are doing succeeds, they each specialize in something, so there is no problems between them, just like everyone knows what they are doing in a traditional economy]]> 2021-06-02 00:30:01 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1577950792 Everyone knows what they are getting 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1577972702 Members of this society know what they can receive for doing a duty, such as receiving meat or vegetables for the group. Even if they do not particularly like what they will receive, they do not get angry or whine about it, as they know the system has worked to keep their society working for generations 

This quote is used to teach young children to be happy to receive something (be it a gift, a lollypop, or something to drink). It also works for a traditional societies the members have to accept what they receive without being angry.]]> 2021-06-02 00:38:53 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1577972702 Not as destructive as more destructive as other economies 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1577999359 These economies are smaller than most different economies, making it so that they are not able to produce that much more than they needed, this makes it so that they can sustain themselves better than most other economies.

This is an environment affected by society, but a traditional economy wouldn't have this effect due to it being very small.]]> 2021-06-02 00:49:39 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1577999359 This type of economy makes the group closer 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578076641 due to everyone having something to do, they don't get into fights about something, and know where everything comes from and from who they got it from

This is a close group of people, it could be either a group of friends, or coworkers, but it doesn't matter, they trust each other, and are close]]> 2021-06-02 01:21:01 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578076641 Traditional economies can limit the population 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578123750 Due to the fact that the economy depends on the weather and climate, if the weather gets too hot or too cold, people would starve.

This is a picture of a drought, when a drought happens, there may not be enough crops to feed everyone, which leads to starvation, which leads to people dying]]> 2021-06-02 01:39:45 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578123750 It is dependent on command and market economy 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578152565 Because market and command economies often deplete natural resources, this makes it harder for traditional economies to survive and prosper 

market and command resources depleted the trees in this area, and also made it more difficult for them to grow crops in order to survive.]]> 2021-06-02 01:50:57 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578152565 Not many career choices in this type of economy 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578174747 Due to the fact that this economy also depends on customs, if someone's father was a hunter, it was expected to have their son be a hunter, and you would be shunned if you did not follow the custom, as it would make it harder for the group to survive.

while sometimes the children of a hunter might like to hunt, they might not want that to be all they do, or just want to do it as a hobby, like in this picture, they are likely hunting as a hobby, and will get a different job, but those in a traditional economy might not have that option]]> 2021-06-02 01:59:51 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578174747 There are no free days 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578215587 Because of the fact that this economy has to continually produce items, the people who use it aren't able to rest on weekends or on holidays.

the picture is self-explanatory, there are no days off, because there are too much things that need to be done, like producing things.]]> 2021-06-02 02:17:50 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578215587 Command economy 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578234653 The centralized government controls the production of items.]]> 2021-06-02 02:26:03 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578234653 There is not as much inequality as other types of economies 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578237979 Because the government controls who works and where they work, it does not cares who works where, just that they can do a good job at it.

The government is the single person on the arrow, it choses who gets to lift the arrow, and it simply chooses who lifts the arrow based on who lifts the arrow the best]]> 2021-06-02 02:27:32 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578237979 The government can choose who works, and can change unemployment rate if they feel it would help the economy 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578262480 The government of a command economy can change the wages and the unemployment rates of the economy, all on their own, unlike other types of economies that need multiple types of companies and individuals 

this image shows a hand controlling a puppet, the government controls wether or not you work or not, so in this picture the government is having this person work, and if they need something else to happen, they would have someone else work on it if they were better at it.]]> 2021-06-02 02:38:16 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578262480 The government makes decisions to benefit society first, not for profits 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578290335 The government is not like a private business, in which they make decisions for profits, but the government wants to benefit their citizens.

Universal healthcare would not benefit the government, as they would not make a profit from it, but it would benefit the citizens.]]> 2021-06-02 02:50:04 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578290335 There a low prices in a command economy 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578302083 Because of the fact governments do not really care for profits in this economy, most of the things that they produce, they sell for affordable prices, as they do not have competition.

In East Germany they had a command economy, in this image, they are selling a fish (carp, in particular), for 2.10, which is affordable, and if it wasn't the government would lower the price so that people could afford it.]]> 2021-06-02 02:55:14 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578302083 innovation can be limited by command economies 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578332989 profit is a motivator for companies to innovate and without any type of competition in this type of economy, they don't have an urge to innovate

in this image the government controls the economy, and what companies do, so because all they have to do is simply follow what they tell them to succeed, they won't try to innovate to succeed. ]]> 2021-06-02 03:09:19 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578332989 Command economies are not very efficient 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578357174 Because there is no need to learn how to improve production, or lower costs of products, as there is no competition in this government, the government does not see a need to raise efficiency of products, or make more supplies than they need to.

in this picture there is not enough supplies for the people, as the government is not efficient enough to meet the demand of the people]]> 2021-06-02 03:20:35 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578357174 There is a low amount of personal freedom 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578380423 The government chooses exactly what you do, even if it isn't related to the government, even something like if you can live in a city, and where you can live.

in this image the man is in handcuffs, and doesn't have a choice on what to do he does not have freedom in this type of command economy ]]> 2021-06-02 03:32:09 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578380423 Higher increase in criminal activities 0545910 https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578401033 Due to the fact that the government may not give everyone what they want, people may resort to crime in order to get what they want.

In North Korea, they do not get much, if any, information on the outside world, so the human rights foundations are working to give North Koreans smuggled USB sticks, so that they can learn about the outside world]]> 2021-06-02 03:42:25 UTC https://padlet.com/0545910/fqhfv2gbjxedj43h/wish/1578401033