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

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

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

4. 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