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Command Economy- the gov owns everything so there is no private businesses, the buzz word is surplus and shortage
Market economy is- private ownership/ entrepreneurship there are a variety/choice in goods. the buzz word is supply and demand
Traditional economy- passed on generation to generation. Made enough to survive. The buzz word is bartering.
the last economy is mixed which is a mix between command and market economy, the gov owns some businesses and the people own some businesses
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