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 ... More »

An example of the way a market economy works is how new technology is priced very high when it is first available for purchase, but the price goes down when more of that technology becomes available. This kind of price f... More »

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 an... More »

The primary difference between capitalism and socialism is that capitalism promotes innovation and personal pursuits, while socialism promotes societal fairness and equality. A capitalist economy accepts that income pola... More »

The three types of economic systems used in the world today are the market economy, planned economy and a mixed economy. Each has its own benefits and disadvantages. More »

Market economy, planned economy and mixed economy are the three major types of economic systems that prevail across the world, states Economy Watch. Each economic system offers a different view on the role of government ... More »

China's economic system is a blend of socialism and capitalism called a socialist market economy. Under this system, the state still owns the means of production, but the market portions out resources. More »