Traditional: Children will grow up to perform the same job in the same way as their parents., The economy is based on how things were done in the past., Market: Resources are privately owned and operated., The product and pricing goals are set by the consumers and managers competing for free markets., The government is restricted from entering the economic market., Capitalism or Free Enterprise, Command: The government draws up detailed orders to carry out its economic plans, The government owns all business and is the employer. Individual work is determined by the government. , The government ownership of nearly all means of industrial production.  , The government controls all prices, All resources are government owned and operated., Mixed Free Enterprise: Key resources are government owned and operated. The rest are privately owned and operated., Government plans ways to use resources in key industries,

Economic Systems

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