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The Inuit of northern Canada can be considered a traditional economy.
Market economy is determined by supply and demand.
The country of Japan can be considered a market economy.
By: Mia Prazniak, Period 4
The country of North Korea can be considered a command economy.
In a traditional economy, habit and custom determine the rules for all economic activity.
The United States can be considered a mixed economy.
In a market economy, individuals and private groups make decisions about what to produce.
In a command economy, the government owns or directs the means of production and controls the distribution of goods.
A mixed economy is an economy in which the government supports and regulates free enterprise through decisions that affect the marketplace.
By: Mia Prazniak
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