Economies

this is how money is made and used in a country

• a market

• an economy

• a tradition

• a job

this is wealth

• capitalization

• capital

• Capricorn

• Capezio

This type of capital is an investment in people; the education and training of people's skills

• resource capital

• human capital

• robotic capital

• city capital

this capital is found in the contents of the earth and the wealth that can be extracted from the area

• resource capital

• human capital

• robotic capital

• city capital

What are the four types of economies?

• human, resource-based, robotic, urban

• north, south, east, west

• traditional, planned, market, mixed

• traditional, non-traditional, man-made, machine-made

This economy is orchestrated by the group; the group, tribe, or family makes all economic decisions and all resources belong to everyone in the group.

• traditional

• centralized

• market

• mixed

This economy has the government as its central authority. The government makes all economic decisions; resources are owned by the government and the government sets the prices of goods and services.

• traditional

• planned

• market

• mixed

This economy is directed by individuals. The decisions for the economy are made by individuals who compete to obtain profits based on the supply and demand of resources. The resources in this economy are owned by individuals. (*this is also known as a "Capitalist" economy)

• traditional

• planned

• market

• mixed

This economy is a combination of a planned economy and a market economy. The government AND individuals share the process of making economic decisions. The government works to guide and regulate the production of goods and services. However, resources are owned by individuals. The government sets the prices of goods and practices. The government serves to protect BOTH producers and consumers from unfair policies and business practices.

• traditional

• planned

• market

• mixed

This is the result of not having enough supply to meet demand.

• consumerism

• mixed economy

• scarcity

• scarecrow