Includes Both Provide Property and Government Control
Mixed System
3 Types of Economic Systems
Command Economic System
In this Economic System Government Controls Production and Distribution
Money Made After Subtracting Costs of Business
The What, How, and Who of Production of Goods and Services
Traditional Economic System
Buyer of Goods and Services
The 3 Questions Economic Systems Answer
Measures How Well Needs and Wants Are Met
Consumer
Traditional, Market, Command
Standard of Living
Market Economic System
Profit
This Economic System is Based on Past Ways of Life and Culture
Individuals Control Production and Distribution
