Question

Arrange the types of economies from least government involvement to greatest government involvement.1. communist economy2.market economy3.socialist economy4.mixed reconomy

Answer 1

The types of economies are ranked from least government involvement (1) to greatest government involvement (5):

1. Market economy - the economy is controlled by the market with little government involvement
2. Mixed economy - public and private companies are mixed
3. Socialist economy - controlled by the government but is still democratic
4. Communist economy - same as socialist economy but not democratic. 

Answer 2

Number one has the lowest government involvement and number four has the highest.

1. Market economy - In a market economy, the government has very little to do with the decisions regarding investment, production and distribution. Instead, these ideas come from the supply and demand that consumers create.

2. Mixed economy - A mixed economy companies private and public enterprises which has some government influence.

3. Socialist economy - A socialist economy is control by the government but still allows small ownership of productions and some say from individuals.

4. Communist economy - Controlled by the government with no influence from the public. Not a democratic society at all.