Types of Economies

1. recessions and booms
3. lack of competition leads to emergence of this
4. paying lower wages to workers while accumulating huge profits
7. no interference by the government
8. main decision maker in command economies
9. one where maximum labour force is involved in production processes.
11. an economy where per capita income is rising
13. contribution of the manufacturing sector is substantial
14. also known as a planned or command economy
15. an example is a tribal economy in Africa
16. demand and supply enable this system to operate
17. as market forces are to a capitalist economy, so ______ is to a socialist economy
18. intervention by government in case price is too high