1. Types of Economics

2. Command government owns and operates all factors of business
aka- Socialism, Communism
Cuba, China, Laos

3. Market individuals own and operate businesses
aka- Free enterprise, Capitalism
Almost: United States, Great Britain, Japan
In reality there are no pure market economies, nor are there any pure command economies. For example, even in the United States, where free enterprise reigns, the government plays a major role in the economy. Minimum wages, social security, and regulatory policies are examples of government involvement.
In China, for example, some private ownership of businesses is allowed, however the government still maintains tight control over the factors of production and prices.

4. Traditional based upon customs and traditions
usually agriculture and hunting
aka- Non-Industrialized, agrarian societies
Chad, Haiti, Rwanda

5. Mixed
Combination of privately owned and government controlled businesses
system that has features of both market and command economies
Almost all economies are mixed