BY: Luke Albright Social Studies 6th Period
It is based on agriculture, fishing, hunting, and gathering. Usually guided by traditions. This sometimes makes it look like they are in poverty even though they have everything they need. They can be nomadic or hunter gather societies, But usually transfer to farmers.
A economic system that is run by the everyone all of the production is portioned by the leaders of the community. In this system the quantity of the products used for profit or consumption is decided by the government and population.
A mixed economy is usually a mix of socialism and capitalism. This allows private economic freedom but also allows the government to interfere to reach social aims.