Economics Honors

United States Government: Democracy in Action, Student Edition

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3 types of economic systems – Traditional Economy, Command Economy, Market Economy Traditional Advantages: Everyone knows what job they will have based on what their parents or ancestors worked as No uncertainty about what to produce
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Unformatted text preview: • Disadvantages: Command Advantages: • Adjust to change quickly • Public services (health care, education, etc.) are available to everyone • Disadvantages: Market Advantages: Disadvantages:...
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