Types of Economies
By Carlos & Taylour
Definition:An economic system combining private and public enterprise.
- Examples:United states ,Cuba ,Norway And Sweden
- Who Owns Resources: Government
- The decisions: Government Officials and legislatures
Definition: is one in which price and production is controlled by buyers and sellers freely conducting business.
- Example countries:Hong Kong,Singapore,Australia and the United States
- Who owns Resources: private firms and individuals
- The decisions:Individuals and Firms
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