Types of Economic Systems

In this economy a central authority makes plans regarding investment and production.

• Market

• Traditional

• Command

• Mixed

In this economy decisions on investment and allocation are made within the market.

• Market

• Traditional

• Command

• Mixed

This economy is usually categorized as a form of socialism.

• Market

• Traditional

• Command

• Mixed

This economy is usually rural and farm based.

• Market

• Traditional

• Command

• Mixed

In this economy both the private sector and government direct the economy.

• Market

• Traditional

• Command

• Mixed

This economy is considered “primitive”

• Market

• Traditional

• Command

• Mixed

In this economy the government controls pricing, distribution, and resources.

• Market

• Traditional

• Command

• Mixed

In this economy investment and production are based on supply and demand.

• Market

• Traditional

• Command

• Mixed

In reality, an economy like this does not exist in a pure form.

• Market

• Traditional

• Command

• Mixed

This economy is defined by bartering and trading.

• Market

• Traditional

• Command

• Mixed