FOCUS QUESTION

How do the main economic systems differ?

The map breaks this topic into its core concepts, connected by labeled relationships. Each link is written so it can be read as a complete statement — not just an unlabeled line between boxes.

Concepts and relationships

  • Economic Systems can be Market Economy.
  • Economic Systems can be Command Economy.
  • Economic Systems can be Mixed Economy.
  • Market Economy driven by Supply and Demand.
  • Command Economy controlled by Government.
  • Market Economy based on Private Ownership.

How to read this map

See the three economic systems and how a market economy is driven by supply and demand while a command economy is controlled by government.

Learning objectives

  • Distinguish market, command and mixed economies.
  • Explain the role of government.
  • Relate ownership to each system.
  • Give a real-world example of each.
Review standard: The systems reflect widely taught introductory economics. Sources: Standard introductory economics references.