Economic systems are the means by which countries and governments organize and distribute resources. The main types include capitalism, where private individuals own and control property and businesses; socialism, where the government owns and manages resources for the benefit of all; and mixed economies, which combine elements of both capitalism and socialism. In a traditional economy, customs and traditions dictate production and distribution, often seen in rural or indigenous communities. Command economies rely on central planning by the government to make economic decisions, while market economies allow supply and demand to determine prices and production levels.