Economic systems can be categorized into three main types: traditional, command, and market. Traditional economies rely on customs and traditions to determine what goods and services are produced and distributed. Command economies have centralized government control over production, distribution, and prices. Market economies allow private individuals and businesses to make most economic decisions in competitive markets.
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Economic systems can be categorized into three main types: traditional, command, and market. Traditional economies rely on customs and traditions to determine what goods and services are produced and distributed. Command economies have centralized government control over production, distribution, and prices. Market economies allow private individuals and businesses to make most economic decisions in competitive markets.
Economic systems can be categorized into three main types: traditional, command, and market. Traditional economies rely on customs and traditions to determine what goods and services are produced and distributed. Command economies have centralized government control over production, distribution, and prices. Market economies allow private individuals and businesses to make most economic decisions in competitive markets.
Copyright:
Attribution Non-Commercial (BY-NC)
Available Formats
Download as PPTX, PDF, TXT or read online from Scribd
Economic systems can be categorized into three main types: traditional, command, and market. Traditional economies rely on customs and traditions to determine what goods and services are produced and distributed. Command economies have centralized government control over production, distribution, and prices. Market economies allow private individuals and businesses to make most economic decisions in competitive markets.
Copyright:
Attribution Non-Commercial (BY-NC)
Available Formats
Download as PPTX, PDF, TXT or read online from Scribd