Latin America Economic Systems (Traditional/Command/Market)

Economic system in which roles and jobs are inherited.

• Traditional

• Command

• Market

Economic system in which roles and jobs are determined by the government.

• Traditional

• Command

• Market

Economic system in which the citizens dictate what goods and services to sell.

• Traditional

• Command

• Market

Economic system in which supply and demand make prices fluctuate.

• Traditional

• Command

• Market

Economic system in which the government owns industries and resources.

• Traditional

• Command

• Market

Economic system in which bartering is common.

• Traditional

• Command

• Market

Economic system in which the government controls wages and production quotas.

• Traditional

• Command

• Market

Economic system in which entrepreneurs prosper.

• Traditional

• Command

• Market

Economic system wherein government planners make all business and financial decisions.

• Traditional

• Command

• Market

An economic system governed by custom, habit, and history.

• Traditional

• Command

• Market