Economic Standards
Economic
Economic Understandings SS7E8 The student will analyze different economic systems. a. Compare how traditional, command, market economies answer the economic questions of (1) what to produce, (2) how to produce, and (3) for whom to produce. b. Explain how most countries have a mixed economy located on a continuum between pure market and pure command. c. Compare and contrast the economic systems in China, India, Japan, and North Korea.
No Economy can be fully command or market or else it would absolute chaos, thats why every economy can be considered a mixed economy.
North Korea-Very Command
Japan- Very Market
China- Command
India- Market
Japan- Very Market
China- Command
India- Market