is the economic featuring characteristics of both planned economy system and market economies. Actually, there"pure" planned or"pure" market economies. are no Most countries rely on some form of mixed market economy. Even a market economy that tries to be as free and open as possible, such as the US. economy, still restricts some activities. In such mixed market economies, the government may control certain sectors which are significant to common welfare, such banking, transportation, or industries as producing such basic products as oil and steel, as in the partially planned system called socialism. To organize systems along a continuum that characterizes them as centrally planned, market, or mixed market economies, Figure 1.3 shows the range of economic systems of some countries around the world.