Describe the four economic systems

2019-10-17 04:50

There are four major types of economic systems. This includes themixed economy, traditional economy, command economy, and marketeconomy.4 Types of Economic Systems. These economies still produce products and services that are a direct result of their beliefs, customs, traditions, religions, etc. These areas tend to be rural, second or thirdworld, and closely tied to the land, usually through farming. However, there is an increasingly small population of nomadic peoples. They never see profit and surplus. describe the four economic systems

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A: Economies worldwide fall into one of four categories: traditional, market, command and mixed. Within these categories, however, there is a considerable amount of variation. The type of economy that a market falls into depends on what it produces, how it produces describe the four economic systems

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