1. Status of Development: Developed, underdeveloped, undeveloped and developing economies.
2. System of Activities: Socialistic and Mixed Economies.
3. Scale of Activities: Small and Large Economies.
4. Nature of Functioning: Static and Dynamic Economies.
5. Nature of Operation: Closed and Open Economies.
6. Nature of Advancement: Traditional and Modern Economies.
7. Level of National Income: Low Income, Middle Income and High Income Economiesapitalistic 

Macro economics suffers from certain limitations. They are:
1. There is a danger of excessive generalisation of the economy as a whole.
2. It assumes homogeneity among the individual units.
3. There is a fallacy of composition. What is good of an individual need not be good for nation and viceversa. And, what is good for a country is not good for another country and at another time.
4. Many non - economic factors determine economic activities; but they do not find place in the usual macroeconomic books.

Two Sector Model:
It is for simple economy with households and firms
Three Sector Model:
It is for mixed and closed economy with households, firms and government.
Four Secto Model:
It is for an open economy with households, firms, government and rest of the world.

(i) Lack of Coordination: The greatest drawback of mixedism is lack of coordination between public sector and private sector. As both work with divergent motives, it creates many coordination related problems.
(ii) Competitive Attitude: It is expected that both government and private should work with a complementary spirit towards the welfare of the society, but in reality they are competitive in their activities.
(iii) Inefficiency: Most of the public sector enterprises remain inefficient due to lethargic bureaucracy, red tapism and lack of motivation.
(iv) Fear of Nationalization: In a mixed economy, the fear of nationalization discourages the private entrepreneurs in their business operations and innovative initiatives.
(v) Widening Inequality: Ownership of resources, laws of inheritance and profit motive of people widens the gap between rich and poor.