Today some blocks conducted two "economist badges" simulations, and we discussed characteristics of the three economic systems (plus mixed which is technically a fourth). Remember that in a command (I COMMAND you!!!), the government answers the three basic economic questions. In a market economy (so many options at a super market!), the individual answers the three basic economic questions. No country in the world has either a pure command or a pure market economy- they're all on a "continuum" (a number line from 0-100) and they're called MIXED.
Homework: none
CLICK HERE TO EXPLORE COUNTRY RANKINGS ON THE ECONOMIC CONTINUUM!
The USA is 76, Hong Kong is 90, and North Korea is 6!! Whoa!