Command: The government controls everything about the economy, strict or dictator leaders control economy, Example: The Soviet Union with Joseph Stalin, Example: North Korea with Kim Jong-Un, Example: Cuba with Fidel Castro, Market: Businesses compete with each other for consumers to buy their goods/services, No government involvement in economy, People are free to decide what to buy or what business to run, Example: no country is 100% this kind of economy, also called capitalism, Mixed: 2 economic systems are combined, Businesses compete for consumers to buy their goods/services and must follow government regulations , Example: The United States, Government has safety laws and regulations to keep consumers safe, Example: Most countries in the world have this kind of economy,

Economic Systems Characteristics

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