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There are four types of economic systems: traditional economies, market economies, command economies, and mixed economies. these economic systems differ in how to answer the three basic questions: how to produce, what to produce and for whom to produce. In traditional economies, the three economic questions are decided mainly by social customs. In market economies, the economy is like capitalism in U.S and the economic questions are decided by individuals in the marketplace. In command economies, is like communism and the questions are decided by the government. In mixed economies, they are decided by a combination of market decisions making and government order. Many different combinations of these four kinds of economic systems are operating around the world today, with different degrees of success. Free-market and command (apex)
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Describe the 4 basic economic systems?
the are four types of economic systems: traditional economies, market economies, command economies, and mixed economies. these economic systems differ in how to answer the three basic questions: how to produce, what to produce and for whom to produce. In traditional economies, the three economic questions are decided mainly by social customs. In market economies, the economy is like capitalism in U.S and the economic questions are decided by individuals in the marketplace. In command economies, is like comunism and the questions are decided by the government. In mixed economies, they are decided by a combination of market decisions making and government order. Many different combinations of these four kinds of economic systems are operating around the world today, with different degrees of success.
What are three main economic systems of the world?
Communism, capitalism, and socialism.capitalism
With which of the 4 world economic systems is subsistence farming?
traditional economy
How does a Mixed economy answer the basic economic questions?
the world may never know
What are Brazil's advantages of economic systems?
It is a free market and Brazil has the 6th largest GDP in the world.
Describe the 4 basic economic systems?
the are four types of economic systems: traditional economies, market economies, command economies, and mixed economies. these economic systems differ in how to answer the three basic questions: how to produce, what to produce and for whom to produce. In traditional economies, the three economic questions are decided mainly by social customs. In market economies, the economy is like capitalism in U.S and the economic questions are decided by individuals in the marketplace. In command economies, is like comunism and the questions are decided by the government. In mixed economies, they are decided by a combination of market decisions making and government order. Many different combinations of these four kinds of economic systems are operating around the world today, with different degrees of success.
What are three main economic systems of the world?
Communism, capitalism, and socialism.capitalism
With which of the 4 world economic systems is subsistence farming?
traditional economy
How does a Mixed economy answer the basic economic questions?
the world may never know
Which was a basic cause of US entry into World War 1?
Economic gain.
What are Brazil's advantages of economic systems?
It is a free market and Brazil has the 6th largest GDP in the world.
Most democracies around the world have how many party systems?
multi-party systems
What resulted from the panic of 1873?
Economic problems and depression around the world
One action that many governments took during World War 1 was to?
regulate their economic systems to increase production
The three most common types of economic systems found in the world?
1. Traditional 2.Command 3.Market
What resulted from the panic 1873?
economic problems and depression around the world (apex)
What is the most basic economic system in the world?
Communism, capitalism, and socialism.capitalism
