Econ by Sarah Campbell https://padlet.com/02sarahcampbell/rw67oe0vz4tah83t Made with the strength to succeed en-us 2022-03-21 17:28:25 UTC 2022-03-23 17:40:43 UTC hello@padlet.com Traditional - Kiley 02sarahcampbell https://padlet.com/02sarahcampbell/rw67oe0vz4tah83t/wish/2105839471 A traditional economic system relies on habits and customs. Life revolves around the family unit and jobs tend to be gender related.  It is mainly based on individual choices. You can find this economic system in tribal communities and amish communities. 

The Inuit people in the state of Alaska use a traditional economic system.]]> 2022-03-21 17:28:58 UTC https://padlet.com/02sarahcampbell/rw67oe0vz4tah83t/wish/2105839471 Command- Tyler Corstange 02sarahcampbell https://padlet.com/02sarahcampbell/rw67oe0vz4tah83t/wish/2105839670 A Command Economy is when the government answers the 3 economic questions. Production, investment, prices, and incomes are determined centrally by a government.

Example: North Korea 
]]> 2022-03-21 17:29:02 UTC https://padlet.com/02sarahcampbell/rw67oe0vz4tah83t/wish/2105839670 Mixed - Sarah Campbell 02sarahcampbell https://padlet.com/02sarahcampbell/rw67oe0vz4tah83t/wish/2105839891 A mixed economic system is a system that combines both the aspects of capitalism and socialism. This economic system protects private property and allows economic freedom to a certain point. This system also allows the government to interfere in economic activities. 

An example of this economic system is the economy of the United States 

  ]]> 2022-03-21 17:29:09 UTC https://padlet.com/02sarahcampbell/rw67oe0vz4tah83t/wish/2105839891 Free Market - Dominic Roudabush 02sarahcampbell https://padlet.com/02sarahcampbell/rw67oe0vz4tah83t/wish/2105840072 a free-market economy is a system in which the prices for goods and services are self-regulated by buyers and sellers negotiating in an open market. No country has a fully free-market economy anymore. The closest to being a free market economy is the United States before the industrial revolution. 

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