CE.11b Types of Economies

Front

This type of economy is rare and exists in rural and isolated parts of the world, but was the type of economy for much of human history.

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Traditional Economy

Front

The United States and most democracies have this type of economy

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Mixed Economy

Front

This type of economy does not exist in the real world because all governments have some level of control.

Back

Free Market Economy

Front

North Korea has this type of economy

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Command Economy

Front

This type of economy is an old-fashioned form of economy found in historical societies.

Back

Traditional Economy

Front

This type of economy has minimal government involvement but is not seen because all governments are involved in their country's economy.

Back

Free Market Economy

Front

This type of economy blends government control and free market.

Back

Mixed Economy

Front

This type of economy is in countries with strong government control (former Soviet Union, China).

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Command Economy

Front

What type of economy does the United States have?

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Mixed Economy

Front

This type of economy has central planning from the government, lack of consumer choice and no private property.

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Command Economy