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  • mixed
  • market 
  • traditional
  • a mixed economy is a system combining private and public enterprise - characteristics  -merits  -demerits  - economic system that incorpornmental some Goverment into a Markwt based Economy 
  • command
  • -private property -supply demand=rice -driven by self-interst -an individual or consumer based on the Economic system that relies on the consumers   strict, command economy, working a second job, or working from home, is illegal. examples:
  • A traditional economy is a system that relies on customs, history, and time-honored beliefs - trade relies heavily on barter -they eventually evolve to from some from of currency for trade  -exists in a Hunter-Gatherer and nomadic society explanation: fishing, hunting,gathering, or some combing of the above 
  • In a command economy, the means by which products are manufactured are publicly owned, though the actual production amounts are assigned by the government.  -federal government can safeguard people and markets -government may own some key industries 
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