Types and Sectors of the Economy

*NO consumer choice
*No competition
*NO innovation
*Government makes all economic decisions
What kind of economy? 

• Traditional
• Command
• Mixed

This type of economy has the government regulating some types of businesses, but not all:

• Traditional Economy

• Command Economy

• Market Economy

• Mixed Economy

What type of economy has economic decisions made by those individuals willing to take the risk?

• Traditional Economy

• Command Economy

• Market Economy

• Mixed Economy

Which type of economy has people producing things in the same way their ancestors had? (By custom)

• Market Economy

• Command Economy

• Traditional Economy

• Mixed Economy

In which type of economy might you find low unemployment because the government determines roles?

• Market Economy

• Mixed Economy

• Traditional Economy

• Command Economy

Check each type of economy that often has individuals or businesses making some or all decisions:

• Command Economy

• Market Economy

• Mixed Economy

• Communism

• Socialism

worker in a factory

• primary

• secondary

• tertiary

• quaternary

• quinary

stockbroker (advises investors on stocks)

• primary

• secondary

• tertiary

• quaternary

• quinary

salesperson at a cell phone store

• primary

• secondary

• tertiary

• quaternary

• quinary

coal miner

• primary

• secondary

• tertiary

• quaternary

• quinary