Farming, hunting,

gathering

government decides
who gets the products

based on supply
and demand

all power given to

the central government

waiting in
line

What is produced?
what people want to
buy and sell

people make
their own products

bartering

government controls what is

produced

government owns
the resources

Economic Systems
Traditional Economy
Command Economy
Market Economy
Mixed Economy
**If you need more room to answer, please use the back of this handout.**
1. Which economic system do you think consumers (like you) would like the most? ___________________________ Why?
2. Which economic system would you rather live in: command, market, or traditional? Why? Explain your answer.
3. What are the 3 basic economic systems? Describe the systems in complete sentences.
Canada has a
thriving ___________
economy.

Canadas Economic
System:

Draw the graphic organizer on the back of

this handout and complete it after reading
about Canadas economy.
What areas of
the economy
does the government
control?

Canadas
Economy

Canadas Economy
is based on: