The World

Different Types of Economies

Cuba (Command Economy)

Fact #1

Did you know that Cuba is actually part of North America

Fact #2

Every year 100 million crabs come from the forest surrounding The Bay of Pigs to get to the sea.

Economy

Advantage: Everyone receives an equal amount from the government


Disadvantage: Few consumer choices

Peru (Traditional Economy)

Fact #1

The potato was originated from peru

Fact #2

Peru is home to the most important city of the Inca Empire

Extra Fact!

Even though Peru is mainly a free market economy, part of it is a traditional economy. For example like up in the mountains of Peru the villages are traditional economies.

Economy

Advantage: Stable


Disadvantage: Lack of progress

Germany (Mixed Economy)

Fact #1

Did you know that Germany is the home of Oktoberfest?

Fact #2

Germany is the also the home of one of histories historical landmarks the Berlin Wall.

Economy

Advantage: The government is the watchdog


Disadvantage: The government can get too involved