Economic System

1. Market Economies.

1.1. it is an economic system in which investment, production and distribution decisions are guided by price signals created by the forces of supply and demand.

2. Mixed Economies.

2.1. The mixed economy refers to an economic model that uses the market to allocate resources, but in which the State intervenes for its regular operation, incorporates elements of the economy

3. Traditional Economies

3.1. They are economic decisions based on customs, history and traditional beliefs.

3.1.1. For example, in tribal cultures perform the same type of work as your parents and grandparents regardless of ability or potentia

4. Command Economies.

4.1. it is a system in which the government, instead of the free market, determines what goods must be produced, how much must be produced and the price at which they are offered for sale.