Types of economies

Command economy to take in

what to produce how to produce and for whom to produce

market economy

economy, decisions are guided by changes in prices that occur between _individual________________buyers and sellers in the marketplace.

  • What to produce? What _people_________________ want to buy and sell.

  • 2) How to produce? Individuals and __sellers_______________ decide

  • 3) For whom to produce? Depends on _sellers________________ and indviduals____________(individuals)