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www.reference.com/article/characteristics-good-economy-41210685c8b9d7ff

While debates continue to rage, economic growth and a strong middle class are generally viewed as essential for a good economy. Widespread purchasing power can help as well. Many also place innovation as a top priority for fostering economic development.

www.reference.com/article/characteristics-planned-economy-842e78d92d1f6714

A planned or command economy is one in which major functions, such as production and distribution of goods, are controlled by the government. In a planned economy, the government owns some or all production facilities and decides what to produce and how goods are priced...

www.reference.com/article/country-market-economy-46e1196d9d6dd8f3

Historically, no nation has ever had a completely authentic free-market economy. In this sense, it is purely a theoretical concept. However, given contemporary usage by economists and other specialists, such as those at the Heritage Foundation, Hong Kong, Singapore, New...

www.reference.com/article/characteristics-traditional-economy-b00578c229bdda01

A traditional economy is an economic system where customs, traditions and beliefs determine the goods and services created by the society. It is dependent on agriculture, hunting and gathering, fishing or any combination of the above. Also called a subsistence economy, ...

www.reference.com/article/characteristics-mixed-economy-2350b6dbedbcbc5b

Since a mixed economy includes a mix of both private and government control, it reflects characteristics of both capitalism and socialism. The balance between the two ideals can vary greatly between countries, sometimes leading to a lack of consensus on whether the econ...

www.reference.com/article/market-economy-work-93067344a9029ebc

A market economy is based on the principles of supply and demand, and lets business survive or fail without much interaction from the government. A pure market economy is impractical to implement, most market economies around the world have a component of government inf...

www.reference.com/article/prices-determined-market-economy-7c77d66a162ba239

Prices are determined in a free market economy through the interactions of supply and demand in the marketplace, where demand is the quantity of a product that buyers are willing to purchase according to a given price and supply is the amount of a product that sellers c...