MAIN ECONOMIC SYSTEMS

The South African economy does have elements of a traditional system, but it is not the predominant (principal/leading) system. For example, many sons or daughters take over the family business out of a sense of duty or make economic decisions based on customs or beliefs.

The South African economy does have elements of a command system but it is not the predominant (principal/leading) system. For example, the government control some parts of the economy, like setting a price for petrol and diesel or providing public goods and services, like roads and waste management.

While the market plays a dominant role in the South African economy, it is not a purely market system. We have many free markets but there is also government influence, therefore we do not have a pure market system.

The predominant economic system in South Africa is mixed because we have elements of a market system, a command system and a traditional system.