Mercantilist economics- This type of economy revolves around a stronger country (aka a mother country) controlling the economy/trade with another country, territory, or region. The goal of this system is to purely benefit the mother country's economy.
Capitalist economics- This system if focused on allowing businesses to make decisions based on the laws of supply and demand. Along with this, citizens have a choice as to what products they purchase. The government has very little role in a truly capitalistic economy.
Socialist economy- This system revolves around a system of central planning, in which the government of the country decides what goods/products the citizens will receive. This system is supposed to make it so that all citizens have roughly the same amount of goods.
