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Four Economic Systems
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Individuals are encouraged to develop new ideas and businesses
Market or Mixed
Economic decisions are based on customs from the past
Traditional
Workers can bargain for higher wages
Market or Mixed
People don't have many choices in the goods and services they receive
Command
Workers can be rewarded for working hard
Market or Mixed
People can choose what kind of work they do
Market or Mixed
People have little choice about the work they do
Command
Land, tools, and factories are privately owned
Market or Mixed
The United States has this type of economy
Mixed
The government meets peoples NEEDS and businesses meet peoples' WANTS
Mixed
This economy is driven by "supply and demand"
Market or Mixed
Native people used this type of economy successfully for a long time
Traditional
This type of economy doesn't actually exist.
Market
This type of economy is controlled by businesses
Market
North Korea has this type of economy
Command
People make their own food and goods using natural resources.
Traditional
A combination of Command and Market economies
Mixed
The government controls the economy
Command
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