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A medieval economic system based on land ownership and a hierarchy of power, including lords, vassals, and serfs. No present-day countries; historical example: Medieval Europe.

An economic system where the means of production are either state-owned or commonly owned and controlled cooperatively; distribution is made to everyone's benefit. Countries: Cuba, Vietnam.

An economic theory that trade generates wealth and is stimulated by the accumulation of profitable balances, encouraging governmental regulation. Historical period: 16th to 18th century Europe.

Part of the economy that is neither taxed nor monitored by any form of government, often cash-based and includes unregistered employment. Prevalent worldwide, especially in developing countries.

An economic system based on customs, history, and time-honored beliefs, where resource distribution is based on inheritance. Present in some rural regions and tribal communities.

A classless, stateless society where all property is publicly owned, and each person works and is paid according to their abilities and needs. Countries: Historically Soviet Union, currently no pure example.

An economic system characterized by private or corporate ownership of capital goods and market-determined prices. Countries: United States, Canada, Germany.

An economic system combining elements of capitalism and socialism, where both market forces and state intervention coexist. Countries: France, Sweden, United Kingdom.

An economic system in which the government or central authority makes all decisions regarding production and consumption of goods and services. Countries: North Korea.