Title: Distinguish between economic systems.
Course: Principles of Business and Marketing (12051-36) > Section: Understanding the Role of Economics in a Global Economy

Distinction should include the following systems:

- Traditional economy, in which goods are produced the way they have always been produced
- Command economy, in which resources are owned and controlled by the government
- Market economy, in which private enterprise drives the economy (as found in societies with democratic forms of government where individuals control the economy)
- Mixed economy, in which government-operated and/or government-regulated enterprises are combined with individually owned enterprises