Types of Economies

Captailist
in this type of economy only those goods will be produced that are in demand(ie the goods that can be sold profitably only are produced). Here goods are distributed on the purchase power of the citizens and not on what the citizens want The demand for housing by poor is present in the market,but in case of capitalist market this cannot be met because the poor do not have capacity to bear the cost of housing.

Socialist In this type of economy the govermnet decides what to produce in for the people.