Economic Systems

Major economic systems and their characteristics.

  • Economics
  • 12 entries
  • 6 sections
  • CC0 — public domain

The data

0

System
Market Economy
Description
Production and prices determined by unrestricted competition.

1

System
Command Economy
Description
Central government controls production and prices.

2

System
Mixed Economy
Description
Combines private enterprise with government regulation.

3

System
Traditional Economy
Description
Based on customs, history, and time-honored beliefs.

4

System
Capitalism
Description
Private ownership of capital goods and free markets.

5

System
Socialism
Description
Social ownership or regulation of means of production.

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Topics

  • economics
  • systems
  • theory