Types of Economies

By Carlos & Taylour

Mixed Economy

Definition:An economic system combining private and public enterprise.

  • Rate:5
  • Examples:United states ,Cuba ,Norway And Sweden
  • Who Owns Resources: Government
  • The decisions: Government Officials and legislatures
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Market Economy

Definition: is one in which price and production is controlled by buyers and sellers freely conducting business.

  • Rate:4
  • Example countries:Hong Kong,Singapore,Australia and the United States
  • Who owns Resources: private firms and individuals
  • The decisions:Individuals and Firms
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Command Economy

Definition: The Command Economy is a key feature of any communist society.


Examples Countries:China, Cuba, North Korea

Who Owns Resources: Government

The Decisions: Governmment

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