Free enterprise System- is a economy in which anyone is free to start a business. This type of economy is called capitalism, because people are free to use their capital (money) however they choose.
Command Economy-the government sets prices, and tells people where they can work and how much they can earn.
1. Cuba
2. China
3. Russia
Efficiency- the result of all these people making economic decisions every day
Shares- sell pieces of your business to others
Supply- is a schedule of the quantities that a business
Demand-
Laws of Demand and Supply-
1
2
Market Clearing Place-
Monopoly_
Supply and Demand-
Command Economy-the government sets prices, and tells people where they can work and how much they can earn.
1. Cuba
2. China
3. Russia
Efficiency- the result of all these people making economic decisions every day
Shares- sell pieces of your business to others
Supply- is a schedule of the quantities that a business
Demand-
Laws of Demand and Supply-
1
2
Market Clearing Place-
Monopoly_
Supply and Demand-