Economic Systems

Traditional Economy

• Tend to stay within the confines of there homes.
• Children follow the same jobs as their parents.

Command Economy

• Government has full control of what gets distributed
• China regulates what is sold in its economy.

Market Economy

• The people decide what gets produce. 
• They tell privately owned businesses what they want.
• In return they make it and the people pay for it.

Mixed Economy

• The U.S part of a Mixed economy
• Government provides support.
• While people and businesses 
• do business 

Ex of each

• Traditional: Hunter or Farmer
• Command: Soviet Union
• Market: India
• Mixed: U.S

In a Mixed Economy the government ensures things called "safety nets" which provide the people with a source of money if the economy takes a turn for the worst.