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An economic system based on supply and demand with little or no government control. It is a summary description of all voluntary exchanges that take place in a given economic environment. Free markets are characterized by a spontaneous and decentralized order of arrangements through which individuals make economic decisions.

A classless, stateless society where all the means of production are owned by the community. Every person contributes and receives according to their ability and needs.

A political movement advocating workers' control of industry through the medium of trade-related guilds in an implied contractual relationship with the public.

A political philosophy and movement that is skeptical of authority and rejects all involuntary, coercive forms of hierarchy. Anarcho-economists believe that voluntary forms of cooperation should replace the coercive structures of government and that free association and mutual aid are the predominant economic mechanisms.

An authoritarian and nationalistic right-wing system of government and social organization which includes economic systems where the government has the power to control the labor force and economic sectors but allows private property and some level of entrepreneurial freedom.

An economic system in which the government plays a key role in the protection and promotion of the economic and social well-being of its citizens. It is based on the principles of equal opportunity, equitable distribution of wealth, and public responsibility for those unable to avail themselves of the minimal provisions for a good life.

An economic system that features characteristics of both capitalism and socialism. A mixed economic system protects private property and allows a level of economic freedom in the use of capital, but also allows for governments to intervene in economic activities in order to achieve social aims.

An economic system aimed at reducing environmental risks and ecological scarcities. The goal is sustainable development without degrading the environment, based on the premise that the economy should serve people and communities first and foremost.

A free or mixed-market economy characterized by the dominance of hierarchical, bureaucratic corporations.

A mode of exchange where valuables are not traded or sold but rather given without an explicit agreement for immediate or future rewards. This practice typically occurs in traditional societies but can also be applied in modern advanced economies as part of a mixed economic system.

A medieval European economic system where the nobility held lands from the Crown in exchange for military service, and vassals were in turn tenants of the nobles while the peasants were allowed to live on their lord's land and give him labor, and a share of the produce, notionally in exchange for military protection.

An economic system in which traditions, customs, and beliefs shape the goods and the services the economy produces. Countries that use this type of economic system are often rural and farm-based.

A sub-field of economics concerned with environmental issues. It advocates for the sustainable management of resources and focuses on the economic impact of environmental policies.

An economic system where the means of production are owned and controlled by the state or public. This system advocates that the means of making, moving, and trading wealth should be owned or controlled by the community as a whole.

An economy that is based on digital technologies, including all business, economic, social, and cultural activities supported by the internet and other digital communication technologies.

An economic system proposed by Albert and Hahnel in which the means of production are owned publicly, and the allocation of resources is done through the participatory decision of decentralized councils of consumers and producers.

An economic and political system that proposes to replace capitalism with a socialist system of federation of free workers' syndicates. The movement suggests that workers, industries, and organizations should be managed by trade unions or cooperatives.

An economic system where private individuals or businesses own capital goods. The production of goods and services is based on supply and demand in the general market, known as a market economy, rather than through central planning, known as a planned economy or command economy.

An economic system that was dominant in the early modern period. It promotes government regulation of a nation's economy for the purpose of augmenting state power at the expense of rival national powers. It is the economic counterpart of political absolutism.