Three Types Of Economys

Traditional Economy

• India
• Vietnam
• Pakistan

Advantages

• Based on Community and Family
• Practiced for years.

Disadvantages

• Poor implemetation
• suffered from internal political disputes.

My life style

• My life would consist of trading goods for materials that I need.

Command Economy

Advantages

• Employment for everyone
• Free schooling
• Free housing
• More equalit

Disadvantages

• Government owns everything
• No private property
• Consumers have no control.

My Lifestyle

• I would be put to work right after school with no choice of what I wanted to do.
• I wouldn't have to many much freedom in my life.

Market economy

Adcantages

• Private property
• Free enterprise
• Choice of jobs.

Disadvantages

• Unequality
• Poverty
• Competition

My lifestyle

• I would go to school the leave and go work at a job that I have chosen.