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.
There are 3 types of economies are : -
1.government economies
2.market economies
That depends on what three 'economies' you are talking about.
In market economies, firms developing new and better products are often able to earn larger than normal profits.
in market economies firm develping new and better products are often able to earn larger than normal profits.
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.
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 )
Command, traditional, and market economies
That depends on what three 'economies' you are talking about.
find the movie "Econ and me" and watch it.
In market economies, firms developing new and better products are often able to earn larger than normal profits.
In market economies, firms developing new and better products are often able to earn larger than normal profits.
in market economies firm develping new and better products are often able to earn larger than normal profits.
In market economies, firms developing new and better products are often able to earn larger than normal profits.
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Farming in the Western Cordillera includes a mix of commercial agriculture, subsistence farming, and agroforestry. Crops such as coffee, cacao, bananas, and citrus fruits are common in lower elevations, while highland farming focuses on grains, potatoes, and vegetables. Terrace farming is also practiced in the steep, mountainous terrain to maximize arable land.