About this document
Types of Economic Systems Explained by Ressie Joy Catherine Felices is a document available to read on EtoBox.
There are four main types of economic systems: traditional, market, command, and mixed. A traditional economy is based around family and customs. A market economy uses supply and demand to determine production and pricing. A command economy has the government control production and distribution. Most countries today use a mixed economy that combines aspects of market and command systems.
- Author
- Ressie Joy Catherine Felices
- Language
- EN