The chart describes the differences between three different
economies.
A country in South America creates a government-run
health care option. The government offers health care plans
managed and paid for by the government. People in this
country can choose a government health care plan or pay
for a private health care plan.
Using information in the chart, what type of economy
describes this South American country?
O a market economy
either a planned economy or a mixed economy
a mixed economy
O a planned economy
Government Economic Control
100% Planned Economy
Example: Communism
Public Ownership of Means of Production
Decisions by Government Determine Economic Activity
Mixed Economy
Example: Socialism
Public and Private Ownership of Means of Production
Decisions by Consumers, Businesses, and Government
Determine Economic Activity
0% Market Economy
Example: Capitalism
Private Ownership of Means of Production
Decisions by Consumers and Businesses Determine
Economic Activity