Q:

What type of economy does Poland have?

A:

Quick Answer

The country of Poland uses a 'market' economic system and represents the sixth-largest economy in Europe. Countries are generally categorized into one of four economic systems: traditional, command, market or mixed.

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Full Answer

'Traditional' economies tend to be rural second or third-world countries where products, services and their exchange are a result of their beliefs, customs, religions and traditions.

In a 'command' economy, a large portion of the economic system is controlled by a centralized power, which is often the federal government. Such systems often exist when a region is rich in valuable resources.

Similar to a free market, a 'market' economy is largely controlled by the people in organizations who determine how the supply and demand of resources are met, with little government intervention.

A 'mixed' economy typically bears aspects of both command and market economies. While some may be primarily free markets, others may be closely regulated by the government in certain areas.

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