Economic Systems – Comparison Chart
Economic Systems – Comparison Chart
Based on the information you gathered about economic systems this unit, complete the chart by answering the questions about the different types of economic systems.
| |Traditional Economy |Market Economy |Command Economy |Mixed Economy |
|Who decides what goods and | | | | |
|services will be provided? | | | | |
| | | | | |
|Who decides how the goods and | | | | |
|services will be produced? | | | | |
|Who decides how many goods or | | | | |
|services should be produced? | | | | |
|Who decides for who should share| | | | |
|in the use of the goods and | | | | |
|services? | | | | |
|Who owns the factors of | | | | |
|production? | | | | |
|Advantages of this type of |1. |1. |1. |1. |
|system? | | | | |
| |2. |2. |2. |2. |
| | | | | |
| |3. |3. |3. |3. |
| | | | | |
| | | | | |
|Disadvantages of this type of |1. |1. |1. |1. |
|system? | | | | |
| |2. |2. |2. |2. |
| | | | | |
| |3. |3. |3. |3. |
| | | | | |
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