Four types of economies

Four types of economies

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  • This is a command economy. In this type of economy the government controls the action and wills for its people this means the government can act upon something that most people disagree on.
  • This is a subsistence/traditional economy. We are the oldest economy system that answers the three basic questions and we have to be self reliant in order to survive. We all have very few luxuries and only achieve
  • This is a market economy. In this system the citizens work on making a profit. In this economy the government doesn't have much authority this could leading to much racial discrimination.
  • This is a mixed economy. A mixed economy combines two forms of economies to allow greater stability and developments. This type of economy is what the majority of the world uses 
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