All economies in the world can be described as being primitive barter economies, command economies, or free market economies. Regardless of the type of economy, they are composed of three basic parts: production, distribution, and consumption. In barter economies, most production is subsistence. Even with limited trading, the choices are usually limited to what is offered for trade. However, archaeological evidence suggests that favorable trading usually occurred because the consumers were pleased with the goods offered. Otherwise, the silk and spice trading of the ancient to medieval world would not have occurred.

Command economies involve totalitarian control. They include economies controlled by Nazis, communists, socialist movements, and others. In the case of the Nazis, private ownership was retained in law, but virtually all economic decisions were ...

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