Economic Systems
In this economic system, production is conducted for personal use only
What is the Traditional or the subsistence economic system?
An organization that is owned and run by one person
What is a Sole trader?
With manufacturing facilities in freeport Trinidad, this company produces makeup locally and exports to 23 countries around the world.
Who is Sacha cosmetics?
(Also distributes goods on Amazon)
The system of exchange in which a crate of bananas can be exchanged for a ton of wheat
What is barter?
The 2025 CPL T20 Final saw this side rise to victory over all other caribbean opponents
Who are the Trinbago Knight Riders
In the planned economy this group owns all the factors of production and is directly involved in providing goods and services.
Who is the Government?
If this business goes bankrupt the debt stops with the end of the business
What is a Joint Stock Company (Limited liability Company)?
Associated brands manufactures many of our favorite snacks, including Devon biscuits, sunshine snacks, universal cereal and this well know chocolate brand.
What is Charles chocolates?
This card allows a person to use money for goods and pay the bank at a later date with interest
What is a credit card?
This English side won the 'treble' in the 2022/23 football season.
Who is Manchester City?
treble - Premier league, FA cup and Champions league
This Caribbean country is known for its centralized planning in which the Public sector controls all business.
What is Cuba?
They perfect business type for a law firm and at least one owner has unlimited liability
What is a partnership?
Franchise holder Prestige holdings, hold franchises for fast food favorites KFC, Pizza hut, Subway and Starbucks and this American casual dining restaurant.
What is TGIF's?
A problem caused in trade in which each party must have what the other party wants
What is a 'double coincidence of wants'?
These two collaborated to get listeners to 'calm down' on their afro beat hit.
Who are Rema and Salena Gomez?
In the free market economy, resource allocation decisions, such as what to produce, how to produce and from whom to produce are determined by this mechanism.
What is the market mechanism?
An established business with well known products, services and brands that allows a person or group use of its trademarks and business model in exchange for royalties.
What is a Franchisor?
FINANCE Minister Colm Imbert has criticised this business's decision to refuse cash transactions in TT dollars, while accepting US dollars, euros, and pounds sterling, calling the policy “discriminatory” and “foolishness.”
What is Hyatt Regency Trinidad?
It is primary function of money: to be used as a way to trade goods and services.
What is a Medium of exchange?
This baller, is the all time top scorer of the game, totaling 38,652 points over his 20 year career (and counting...)
Who is Lebron James?
Governments provide housing and most needs and ensures that no one individual earns a great deal more than any other, making this a major benefit on the planned economic system.
What is an 'Even distribution of wealth'?
A joint stock company is formed through the issuing of this document
What is a certificate of Incorporation?
This organization of over 600 business owners champions the causes of business, and leverage relationships to strengthen T&T business across the region
Who is the Chamber of industry and commerce?
A cheque made out by a bank on behalf of a customer.
What is a Bank draft or a manager's cheque?
The true story of a working-class gamer, a former race-car driver, and an idealistic motorsport executive who risk it all to take on the most elite sport in the world.
What is Gran Turismo?