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Economic Systems

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  • North Korea has this type of economy
    Command
  • This type of economy is controlled by businesses
    Market
  • People make their own food and goods using natural resources.
    Traditional
  • The desire to earn money drives the economy
    Market
  • The government meets peoples NEEDS and businesses meet peoples' WANTS
    Mixed
  • Does not feel pressure to evolve or produce more efficiently
    Traditional
  • Indigenous peoples used this type of economy successfully for a long time
    Traditional
  • Mostly private businesses but also include public services under the control of the government
    Mixed
  • This economy is driven by "supply and demand"
    Market
  • Individuals to own private property and control their own resources
    Market
  • The government decides what will be produced and what resources will be used
    Command
  • A combination of Command and Market economies
    Mixed
  • The government chooses your job
    Command
  • Canada has this type of economy
    Mixed
  • The government controls the economy
    Command
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