The document discusses four types of economies: traditional, free market, planned, and mixed. It provides details on the definition, characteristics, examples, and advantages/disadvantages of each. A traditional economy is based on customs and beliefs, with few technologies. A free market has no government control and is driven by supply and demand. A planned economy has the government control production, prices, and allocation of resources. A mixed economy combines elements of free markets and government intervention.

1. ECONOMY
 Group 1:
- Phạm Thị Linh
- Phạm Hồng Dương
- Trần Thị Lan
- Trần Thanh Phương
- Đặng Thùy Trang
- Vũ Thị Thanh Xuân
- Nguyễn Thị Mai

2. 4 types of economy
• 1.TRADITIONAL ECONOMY
• 2. FREE MARKET
• 3. PLANNED ECONOMY
• 4. MIXED ECONOMY

3. TRADITIONAL
ECONOMY
1. DEFINITION.
A traditional
economy is an
original
economic
system in which
traditions,
customs, and
beliefs shape
the goods and
the services the
economy
produces, as
well as the rules
and manner of
their distribution

4. 1.2. Example of traditional economies
1.Autralian aborigines

5. 1.3. Characteristics
1.Traditional economies
are often based on one or
a few of agriculture,
hunting, fishing, and
gathering.
2.Barter and trade is often
used in place of money.
3.Often, people in a
traditional economy live in
families or tribes.
.
• 4. morden technology is
not used in traditional
economies.
• 5. custom govern
economies decisions
that are made
• 6. physical streng and
knowledge of the
environment are the
tools for survival.

6. 1.4. Disadvantages and advantages
Advantages
1.these are peaceful societies.(
war is almost unknown is these
societies).
2. By the nature of her family, the
community living in togetherness.
Disadvantages
1. nothing in these societies ever
changes because there is no
technology, people depend on
nature to survive
2. people have no protection
from environment disasters like
droughts and floods.
3. people are always in danger of
hunger and disease.

7. Free market
2.1_Denifition
Free market is market economy that is not controlled in any
way by a government
2.2_ Free market particular
+ free from fluence of custom an tradition ( different from
traditional market)
+things are bought and sold because supply and demand (
traditional market is decisioned by custom and tradition)
+ free market control by itself ( traditional market : by
government)

8. 2.3 Positive feature
+ competition => control prices and quality
of produce => good for customer
+technology => helps company produce
more goods in less time and less effort, save
time, reduce cost production => more profit
2.4 Negative feature
+ not exits anywhere in the world because of
all governments set limits in order to control the
economy.

9. PLANNED ECONOMY
3.1:DEFINITION:
Planned economy is controlled by government.
The government decides:what is produced, how
much is produced, the methods of the production
and the price.

10. 3.2:CHARACTERISTICS
Market economy
1. Having problems
2. Producers always want
the highest price
3. Salary mostly depends
on the demand for work
4. big industries grows
slowly
Planned economy
1. giving solutions to solve
problems
2. The government sets
price
3. Salary depends on the
services provide to
society
4. Big industries grow
quickly

11. 3.3:DRAWBACKS
Problems with supply. It is difficult for government to know
exactly how much to produce to meet demand
.So the result is shortages

13. Definition
• A mixed economy is variously
defined as an economic
system consisting of a mixture of
either markets and economic
planning, public
ownership and private
ownership, or free
markets and economic
interventionism.
A mixed economy = A market economy + A planned economy

14. 4.1Example of mixed economies
others

15. 4.2Characteristics
Economies mix government control and free
market values in different ways
let privately owned businesses exist alongside
state run industries.
put limits on free enterprise.

16.  let privately owned businesses exist alongside
state run industries
The economy becomes divided between the state sector and
the private sector.
 the state sector
• industries that the government thinks are important and need
protection from the risks of the free market.
 use money that the government collects in taxes
 do not need to compete with other companies
However, Deregulation reorganization of the economic
structure within which private businesses are allowed to
compete with state-run industries.

17.  put limits on free enterprise
governments may decide to
 create laws to make sure companies trade honestly
or to prevent monopolies
 regulate methods of production
to guarantee that products are safe for consumers
and to protect the environment.

18. Many economists would argue that the mixed
economy is the best system for consumers.
Because consumers have two ways to control the
economy by
choosing to buy a company's goods or services
choosing to give political parties their votes.