Current Learning Target

INTRO3: I am learning about the three basic types of economies (traditional, command, and market), tariffs, quotas, and embargos to increase our background knowledge of economics.

I know I am Successful when... 

• I can explain how people buy goods and how decisions are made in a traditional economy. 
• I can explain who makes the economic decisions in command economies. 
• I can explain who makes economic decisions in a market economy and the two other names for a market economy. 
• I can explain the concept of mixed economies and place countries along the economic continuum. 
• I can compare and contrast tariffs, quotas, and embargos.