Gemma     1-2      Traditional Economic System

• Most ancient type of economy in the world.
• Includes certain elements of a traditional economy.
• Paved the way for more economies such as Command and Mixed.

Gemma      2         Command Economic System

• Most notable feature of a command economy.
• The government controlled by a centralized power.
• Often the government will own everything involved in the industrial process.

Gemma     2-3      Market Economic System

• Very similar to a free market
• Organziations are ran by the people determine how the economy runs.
• Includes Capitalism and Socialism

Gemma    3           Mixed Economic System

• Also known as a Dual Economy
• The market is more or less free of government.
• Includes government programs
• Can lead to credible results, can suffer the consequences.