Different Types of Economies
Cuba (Command Economy)
Did you know that Cuba is actually part of North America
Every year 100 million crabs come from the forest surrounding The Bay of Pigs to get to the sea.
Advantage: Everyone receives an equal amount from the government
Disadvantage: Few consumer choices
Peru (Traditional Economy)
The potato was originated from peru
Peru is home to the most important city of the Inca Empire
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.
Disadvantage: Lack of progress
Germany (Mixed Economy)
Did you know that Germany is the home of Oktoberfest?
Germany is the also the home of one of histories historical landmarks the Berlin Wall.
Advantage: The government is the watchdog
Disadvantage: The government can get too involved