https://padlet.com/0518047/kd5yg3x695owwx9k Lauren Carias, Period 2 en-us 2021-05-28 14:45:53 UTC 2021-06-29 22:15:09 UTC hello@padlet.com https://padlet.net/icons/png/1f4b5.png 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1568693088 2021-05-28 14:48:05 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1568693088 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1568768031 An economy in which citizens are allowed to freely buy and sell what they need with little government interference.]]> 2021-05-28 15:11:24 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1568768031 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1568800306 When their is a low demand and a high supply it means their will be a low price in stores. ]]> 2021-05-28 15:21:17 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1568800306 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1568806182 When there is a low supply and a high demand there will be a high price for the product. ]]> 2021-05-28 15:23:09 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1568806182 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1568824642 In the market economy the government has very little involvement. It makes sure that the producers follows the rules and doesn't sell any illegal products.  ]]> 2021-05-28 15:28:52 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1568824642 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1568847775 In a market economy producers compete for customers. Competition in a market economy is healthy!]]> 2021-05-28 15:35:55 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1568847775 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1568890227 Private Property exists in a market economy, when citizens start a business they can sign legally binding contracts that allows them to get profit form ownership.]]> 2021-05-28 15:48:34 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1568890227 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1577694286 The more creative you are with your products in a market economy the more buyers you'll get. ]]> 2021-06-01 21:36:22 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1577694286 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1577696744 The U.S. Constitution protects your rights to own a small business and to have a market economy. EXAMPLE:The 4th amendment protects the rights of owning private property and limits the government by protecting people from unreasonable searches and seizures.]]> 2021-06-01 21:38:00 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1577696744 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1577703576 2021-06-01 21:42:42 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1577703576 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1577731691 The government commands the industries and gives it orders on what to make and how much employees get paid.]]> 2021-06-01 22:01:57 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1577731691 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1577733760 The government owns every industrie and chooses who gets food, who gets paid, and who gets privileges.]]> 2021-06-01 22:03:32 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1577733760 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1577735915 In a command economy their is no such thing as competition shown in market economy.]]> 2021-06-01 22:05:01 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1577735915 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1577737072 Most dictatorships have a Command Economy. EXAMPLE: North Korea.]]> 2021-06-01 22:05:53 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1577737072 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1577737959 Some advantages of a command economy is that it provides free medical care, education and housing to citizens. ]]> 2021-06-01 22:06:35 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1577737959 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1577740134 Another advantage to having a Command Economy is that there is a low levels of unemployment. And no one gets paid more, government sets wages. ]]> 2021-06-01 22:08:20 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1577740134 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1577743131 A disadvantage of a Command Economy is that it is very inefficient, the government gets blogged down with expenses they earn lower profits, they will have to raise prices and customers might not be able to afford. ]]> 2021-06-01 22:10:38 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1577743131 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1577750644 Advantages of a Command Economy is that common good goes over profit. Meaning the government can focus on the common good of the people and not of profit or losses. ]]> 2021-06-01 22:16:13 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1577750644 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1577758472 2021-06-01 22:22:12 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1577758472 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1578207760 A traditional economy does not have any interest in profit, its main goal is the survival of its people. ]]> 2021-06-02 02:14:32 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1578207760 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1578212202 Traditional Economy is mostly found in undeveloped countries or people who choose to live life back in the day like the Amish.]]> 2021-06-02 02:16:27 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1578212202 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1578216281 Traditional Economies rely more on old-fashioned economic models like hunting.]]> 2021-06-02 02:18:07 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1578216281 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1578218444 Most countries start out with a traditional economy and then to a market or command economy.]]> 2021-06-02 02:19:04 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1578218444 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1578221194 Traditional Economies produces only what they need for survival, they rarely have leftovers meaning there is NO trade.]]> 2021-06-02 02:20:17 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1578221194 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1578228352 Because Traditional Economies are small they produce less harm to the environment. ]]> 2021-06-02 02:23:20 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1578228352 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1578231532 The U.S. had traits of a Traditional Economy before the great depression]]> 2021-06-02 02:24:41 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1578231532 0518047 https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1578233563 A disadvantage of Traditional Economy is that their economy is exposed to change, meaning they might not adapt well. They also have a small population.]]> 2021-06-02 02:25:34 UTC https://padlet.com/0518047/kd5yg3x695owwx9k/wish/1578233563