Economic Systems

Government owns the business and means of production.

• Command

• Market

• Traditional

Prices are determined by central planners.

• Command

• Market

• Traditional

Central planners determine what is to be produced, how and for whom.

• Command

• Market

• Traditional

The government provides housing for the people.

• Command

• Market

• Traditional

Social goals are determined by the central planners for the people.

• Command

• Market

• Traditional

Individuals own the businesses and means of production.

• Command

• Market

• Traditional

Prices are determined by the interaction of buyers and sellers in the marketplace.

• Command

• Market

• Traditional

Buyers and sellers determine what is to be produced, how and for whom.

• Command

• Market

• Traditional

Individuals are able to own their own homes.

• Command

• Market

• Traditional

Social goals are determined by the people.

• Command

• Market

• Traditional