Créer jeu
the highest profitability in what to produce
Who to produce for
private sector firms
who has the ability to buy
supply curve
Free Market
How to produce
also called command economy
Should a company focus on producing electric cars or traditional gasoline-powered vehicles?
extreme opposite to market economy
the cheapest method of production
Should a farm grow organic vegetables or invest in cash crops like coffee for export?
best decisions
Market Economy
Capitalist Economy
Should a tech company prioritize developing smartphones or artificial intelligence technology?
who is willing to pay
Planned Economy
Should a clothing brand target high-income consumers with luxury fashion or produce affordable clothing for the mass market?
Opportunistic
one with zero government involvement
Mixed Economy
some government involvement
What to produce
Should a government allocate resources to build more schools or hospitals in underserved areas?
Mixed Economy
government control and planning on some resources
the product that has the highest demand
Democractic
Planned Economy
public sector firms
where individuals have little control
where decisions are made by governments