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The four main kinds of economic systems are; command, market, traditional and mixed.
An underdeveloped economy in which communities use primitive tools and methods to harvest and hunt for food, often resulting in little economic growth. Traditional economies are often found in rural regions with high levels of subsistence farming. Countries that evolve their economies past the traditional level often develop into market economies or command economies.
More Traditional
Some countries that have a command market economy include China, Saudi Arabia, and Syria. Venezuela and Laos also have command market economies.
what are command economies
Command, traditional, and market economies
The four main kinds of economic systems are; command, market, traditional and mixed.
An underdeveloped economy in which communities use primitive tools and methods to harvest and hunt for food, often resulting in little economic growth. Traditional economies are often found in rural regions with high levels of subsistence farming. Countries that evolve their economies past the traditional level often develop into market economies or command economies.
More Traditional
Some countries that have a command market economy include China, Saudi Arabia, and Syria. Venezuela and Laos also have command market economies.
what are command economies
No, the US has a market economy a result of its capitalist policies, command economies can be found in communist countries.
traditional
A town where every child grows up to do the same job his or her parents did
An underdeveloped economy in which communities use primitive tools and methods to harvest and hunt for food, often resulting in little economic growth. Traditional economies are often found in rural regions with high levels of subsistence farming. Countries that evolve their economies past the traditional level often develop into market economies or command economies.
Nearly all modern economies in the world today have characteristics of both market and command economic systems. That is why they are called mixed economies. Traditional economies are very hard to find and could not function effectively for a whole nation. Nearly all the countries in Southwest Asia today would best be described as mixed economies, as they have the characteristics of a free market and free enterprise as well as some government planning and control.
the competition in the market economies encourages both qyality and low prices.