Newark Liberty International Airport (IATA: EWR, ICAO: KEWR), formerly known as Newark International Airport, is an international airport within the city limits of both Newark and Elizabeth, New Jersey, United States. It is about 15 miles (24km) south west of Midtown Manhattan.
Dealing with finances is a key element of home economics. Understanding concepts such as debt, credit, loaning, interest rates and so on are important to having a healthy economic home. Life skills such as making a budget, keeping financial records and making frugal purchasing choices are all part of this subject area.
In this lesson, we'll explore the four different types of economic systems found across the globe. These types include: a traditional economy, command economy, market economy, and mixed economy. A Traditional Economy. The oldest type of an economy found around the world is a traditional economy, which is based upon a people's belief and customs. In these self-sustaining economies, communities and families grow crops and manage their farms using traditional methods. What they produce is what they get to consume. Traditional economies can still be found in the developing world, like parts of Asia, Africa, and South America.