Economic Systems

This is the ability to make our own economic decisions without interference from the government.

• Economic Efficiency

• Economic Freedom

• Economic Growth

• Economic Stability

This means that the goods and services we count on are there when we need them.

• Economic Security

• Economic Growth

• Economic Stability

• Economic Equity

This economic goal involves the fair and just distribution of a society's wealth.

• Economic Equity

• Economic Security

• Economic Growth

• Economic Freedom

This goal of the economy makes the most of society's resources.

• Economic Growth

• Economic Stability

• Economic Security

• Economic Efficiency

The government owns all industries, with total control of production, supply & prices.

• Socialism

• Communism

• Capitalism

• Traditional

Individuals own businesses & freely choose what to buy & sell in free markets with little government interference.

• Capitalism

• Communism

• Traditional

• Socialism

Many, but not all, businesses are owned & controlled by the government.

• Traditional

• Capitalism

• Socialism

• Communism

People rely on hunting, fishing & agriculture to meet their needs.

• Capitalism

• Socialism

• Communism

• Traditional

Individuals can open a business without government interference, but pay very high taxes for social services.

• Capitalism

• Socialism

• Traditional

• Communism

This type of economy has a Free Enterprise System or Market Economy.

• Socialism

• Traditional

• Communism

• Capitalism