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Traditional economic system. The traditional economic system is based on goods, services, and work, all of which follow certain established trends.
Command economic system. In a command system, there is a dominant centralized authority – usually the government – that controls a significant portion of the economic structure.
Market economic system. Market economic systems are based on the concept of free markets. In other words, there is very little government interference.
Mixed system. Mixed systems combine the characteristics of the market and command economic systems. For this reason, mixed systems are also known as dual systems.
What else can I help you with?
What are two major econmic systems?
Capitalism, socialism, and communism are major economic systems.
The US economy is a mixture of which two economic systems?
Mixed and market
What two economic systems were created in the 1600 and 1700?
commerse enquizitions
What are panamas two major economic systems?
sorry i don't know
What two economic systems have African leaders advocate?
Capitalism and Socialism
What are the types of political economic systems?
there is no such thing as political economic systems, there are only economic political systems
A mixed economy combines elements of which two economic systems?
Market and command
What two economic systems clashed during the cold war?
communism and capitalism
What two economic systems were in competition during the cold war?
Communism & Democracy
Economic systems differ according to what two main characteristics?
Answer: Who owns the factors of production, and the methods used to coordinate economic activity.
Why cultures develop economic systems?
why dp cultures develop economic systems
What kind of economic systems do Canada and the US have and what has brought prosperity to these two countries?
its called your face
