Economic Systems

ECONOMY	DECISION MAKERS	EXAMPLE
Command	Gov't, gov't, gov't / Dictator / few personal choices	Cuba, N. Korea
Market	$ speaks, consumers, businesses, little gov't control	U.S.A.
Mixed	Similar to market but more gov't regulation	Canada
Traditional	Elders decide, choices based on customs / tradition	Remote regions only

INDUSTRY	DEFINITION	EXAMPLE
Primary	Extraction of natural resources / semi-finished goods	Fishing, Farming, Forestry, Mining
Secondary	Manufacturing finished goods	Car manufacturing, furniture making, house construction
Tertiary	Service provided	Car repairs, Hair styling, teaching, gov't, laundry services

WORLD PATTERNS OF THE RICH & POOR