1. Mixed Economies

2. Mixed Economy
economy with components that are a mixture of the three basic economic systems
Real world economies fall in between a pure command economy and a pure market economy

3. Economy of the United States
leans toward capitalism
Government actively participates in the economy
promotes economic growth: laws that encourage business development
changes distribution of income: money collected in taxes is redistributed
provides services that private industry cannot economically provide
Examples: education, mail delivery, highways, army and navy

4. Wealth Distribution
many large corporations: wealth is not widely distributed throughout the economy

5. Economy of China until the 1980s: command economy
since the early 1990s: government has added features of a market economy
privately owned businesses have developed
shops sell consumer goods and services
hotels and restaurants