Welcome To Economic Systems
MIXED,MARKET,COMMAND
The different Economic Systems
Market Economy
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Market economy :in which decisions regarding investment, production, and distribution are based on supply and demand, and prices of goods and services are determined in a free price system.Example countries: France
Resources are owned by : individuals
Economic Decisions are owned by : individuals
Command Economy
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Command economy : is a key feature of any communist society.
Example countries: China, Cuba, North Korea
Resources: government
Economic Decisions: government
Mixed Economy
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Mixed Economy: is variously defined as an economic system consisting of a mixture of either markets and economic planning, public ownership and private ownership, or free markets and economic interventionism.
Countries: Cuba, Norway, Sweden
Resources are own by
The decisions are made by :state
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