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Transcript of economy
Types of economys
command economy-An economy which the government has full control.
Market economy-an economy which there is an agreement between the buyer and the seller.
Mixed economy-an economy which a little of command and market are combined together.
Traditional economy-an economy which there is no money and each person depends on each other because of jobs.
Currency-currency is money.Each country has its type of currency.Most of the Eu has european currency-euros.Russias currency or type of money is called ruble.
Human and physical capital
A physical capitol is where machines,factories, and technology and other more things are needed in order to make a business operate.
A human capitol is used to increase the GDP of a country.This includes education,training,skills,and health of the workers.
Economy and Natural resources
The economy of the UNITED KINGDOM has an mixed MARKET economy.
GERMANY has a MIXED economy.
RUSSIA has mixed MARKET economy.Some of RUSSIA'S natural resources are coal,oil,and natural gas.