4 Economies

4 Economies
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  • Command Economy
  • Traditional Economy
  • Market
  • A Command Economy is an economy with the governments control.Everything that goes on in that area is due to the effects of the government.You can find this type of economy in places like Cuba.
  • Mixed Economy
  • A Traditional Economy is an economy run by the beliefs and old ways of life.For example instead of actually going to a supermarket for food people following traditional economy hunter and farm and gather their resources.
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  • The Market Economy are where you can find a bunch of entrepreneur.The government will not have access to control someones personal business.This is where the government is hands off.Places like Hong Kong work in this type of economy.
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  • A Mixed Economy has both Command and Market Economies.Both are acceptable in this economy.For example in places like the U.S you can find this 
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