Types of Economies

The government or other central authority makes all the economic decisions.

• Traditional

• Command

• Market

• Mixed

The government (or central authority) sets all pries of goods and services.

• Traditional

• Command

• Market

• Mixed

The government and individuals share the economic decision making process.

• Traditional

• Command

• Market

• Mixed

Tradition and custom determine the economic decisions.

• Traditional

• Command

• Market

• Mixed

Farming, hunting, and gathering are done in the same way as the generation before.

• Traditional

• Command

• Market

• Mixed

There is little or no use of technology.

• Traditional

• Command

• Market

• Mixed

Combines elements of pure market and command economies.

• Traditional

• Command

• Market

• Mixed

Which type of economy is controlled by the government?

• Command
• Market
• Mixed
• Democratic

Which type of economy is run by the businesses & business owners?

• Command
• Mixed
• Communist
• Market

If I produce meat but, the government has to check to make sure I can put this product on the market, what economic system is this?

• Mixed
• Traditional
• Market 
• Command