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