Economy Definition An entire network of producers, distributors, and consumers of goods and services in a local, regional, or national community.

Economy Types Market Economy – Little or no government interference, Lots of choice Countries: United States, Japan 

Economy Types Command Economy – total government control, little or no choice Countries – North Korea, Cuba, Libya, 

Economy Types Traditional Economy – production of same types of things - generation after generation. Based heavily on Agriculture, fishing, hunting and gathering guided by traditions Bartering instead of $$$ Countries – Most African countries, Burma/Myanmar, Bangladesh, native Americans