Types of Economic systems



3 different economies

Market economy

Planned economy

Mixed economy

 

Market economy

An economy where the resources are managed by the private sector

The government has minimal role, except providing some products

 

Planned economy

An economy where the resources are managed by the private sector

The government has minimal role, except providing some products

 

Mixed economy

An economy where both private sector and government play an important role in the allocation of resources






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2 Responsesto “Types of Economic systems”

  1. roba says:

    planned economy is an economy where the resources are managed by public sector not by private sector

  2. cooca says:

    private sector

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