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Market Economy - Where consumers decide which goods and services they want and businesses provide these. Most businesses in a market economy are privately owned. The USA is an example of a market economy.
Command economy - Where the government owns most businesses. The government decides what and how much will be produced. Russia and China used to have planned economies.
Traditional economy - an economic system in which people make economic decisions based on customs and beliefs that have been handed down from one generation to the next.
A mixed economy is another kind of economic system which bledns elements of the 3 above economic systems. It is not one of the 3 major types of economies.
Wiki User
∙ 9y ago
Wiki User
∙ 12y agoThere are 3 types of economies are : -
1.government economies
2.market economies
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What are the differences between the 3 economies?
That depends on what three 'economies' you are talking about.
Why have market economies far exceeded all other types of economies in the production of new and better products?
In market economies, firms developing new and better products are often able to earn larger than normal profits.
Why have market economies far exceeded all other types of economies in the production of new and better production?
in market economies firm develping new and better products are often able to earn larger than normal profits.
What are three types of banks found in many economies?
In many economies there are three basic types of banking institutions. This does not apply to all economies. Here are three commonly known types: A. A central banking system that is created by a government to help regulate the monetary policies of an economy and often act as the government's banker; B. Commercial banks that handle both consumer & business transactions such as lending; and C. Wholesale banks, which deal primarily with large corporate organizations. There are many other smaller types of banking such as credit unions & savings banks.
What are the top three economies in the world?
Here are the top 3 economies as of 2009... 1. China ( Approximate GDP- $7,043,000,000,000 ) 2. Japan ( Approximate GDP- $4,305,000,000,000 ) 3. India (Approximate GDP- $2,965,000,000,000 )
What are the three main types of economies?
Command, traditional, and market economies
What are the differences between the 3 economies?
That depends on what three 'economies' you are talking about.
How many types of economies are they?
find the movie "Econ and me" and watch it.
Why have market economies far exceeded all other types of economies in production of new and better products?
In market economies, firms developing new and better products are often able to earn larger than normal profits.
Why have markets economies far exceeded all other types of economies in the production of new and better products?
In market economies, firms developing new and better products are often able to earn larger than normal profits.
Why have market economies far exceeded all other types of economies in the production of new and better production?
in market economies firm develping new and better products are often able to earn larger than normal profits.
Why have market economies far exceeded all other types of economies in the production of new and better products?
In market economies, firms developing new and better products are often able to earn larger than normal profits.
What types of economies are there in Tibet?
i don't exactly know i just need the answer from someb ody else
What were two types of economies found among Native American groupes?
how should i know i am asking u
What types of economies did the north and south have in the civil war?
im sure u hav enough time to answer it yourself
What two types of economies found among different Native American groups?
how should i know i am asking u
Types of farming in the western cordillera?
Not much farming.The economies in the Western Cordillera are based on logging, mining, and tourism.
