Economic Systems
This economy is based on customs and traditions.
Traditional Economy
This is the study of how people use limited resources to meet unlimited wants.
What is Economics?
In this economy, the government makes most economic decisions.
What is a command economy?
These are physical items, and these are actions people do for others.
What are goods and services?
In this economy, businesses and consumers make most economic decisions.
What is a market economy?
This economy combines parts of command and market systems.
What is a mixed economy?
This is the type of economy in the United States.
What is a mixed economy?