Economic Systems

The way a country organizes how it will produce goods to meet the needs of its people

• Economic System

• Human Rights

• Government

• Statistics

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

Families pass on their way of life to their children

• Traditional

• Command

• Market

• Mixed

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

• Traditional

• Market

• Command

• Mixed

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

• Traditional

• Market

• Mixed

• Command

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

Individuals can own businesses, but the government controls most social services

• Mixed

• Command

• Market

• Communist

People sell their crops in village markets for items they need is an example of...

• Market

• Command

• Traditional

• Mixed

Buyers and sellers make the financial decisions

• Market

• Mixed

• Command

• Traditional

Supply and demand determines how much an item costs

• Market

• Command

• Mixed

• Communist

The food supply is rationed, or divided, so everyone gets the same amount. The government is in charge of this:

• Command

• Market

• Mixed

• Traditional

Citizens receive a free college education, but also have freedom to make their own career and business decisions

• Mixed

• Market

• Command

• Traditional