Market Economy: Profit: Profit is the reward for risks taken, Competition: Competition is critical to business, Private Ownership: Corporations and people are encouraged to own property, Capitalism, Businesses, consumers, government act independently of one another, Determination of what types of goods and services should be produced is founded in market forces and self-interest, Government has little to no direct influence/involvement with business, Private Ownership: Owners can purchase, rent, trade, sell, give, or will their property to whomever they wish, Profit: Profit is encouraged, Profit: Profit belongs to owners and they can determine what to do with their ‘rewards’, Competition: Competition encourages being the best that they can be, Centrally Planned Economy: Profit: All profit belongs to the government, Competition: Competition is limited, Private Ownership: Ownership of property is restricted, Communism, Command Economy, Decisions are made by the government, Government provides education, health care, employment, housing to all members of society, Government determines who will work in the businesses and where they will live, Profit: Citizens do not receive a portion of the profits they help to make, Profit: Profits are reinvested into business or used for social programs, Competition: Government determines price, quality, style, goods and services, amounts leaving consumers with limited options, Mixed Economy: Profit: Profit is encouraged but also taxed, Competition: Government can be a competitor, Private Ownership: Property is owned by individuals, corporations, or government, Sit somewhere between Market and Centrally Planned, Modified free enterprise economies, Private Ownership: Government owns schools, parks, real estate, Private Ownership: Government sets regulations that will have an effect on private property, Competition: Strong competition exists,

Market/Mixed/Centrally Planned

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