Economic Systems

Dontae & Jacari & Lezlie

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Command Economy

  • Economic Security - 1 of 5

    Economic Freedom - 3 of 5

    Economic Efficiency - 3 of 5

  • China, Cuba, North Korea.
  • economic system in which the means of production are publicly owned and economic activity is controlled by a central authority that assigns quantitative production goals and allots raw materials to productive enterprises.
  • In a command economy, it is the government that decides what to produce, how to produce goods and how to distribute goods and services within the economy.


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Mixed Economy


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Market Economy

  • Economic Security - 4.5 of 5

    Economic Freedom - 5 of 5

    Economic Efficiency - 4 of 5

  • Hong Kong, Singapore, Australia
  • In a market economy, almost everything is owned by individuals and private businesses- not by the government.
  • People have the power to decide whether to buy or not buy the products and services that are on offer in the market.