Question

Define Market Economy, Centrally Planned Economy,Mixed Economy​

Answer 1

Explanation:

Market Economy=>An economic system in which production and prices are determined by unrestricted competition between privately owned businesses.

Centrally Planned economy=>A centrally planned economy, also known as a command economy, is an economic system in which a central authority, such as a government, makes economic decisions regarding the manufacturing and the distribution of products.

Mixed Economy=>A mixed economic system is a system that combines aspects of both capitalism and socialism.

• A mixed economic system protects private property and allows a level of economic freedom in the use of capital, but also allows for governments to interfere in economic activities in order to achieve social aims.

Answer 2

Market Economy :

an economic system in which production and prices are determined by unrestricted competition between privately owned businesses.

Centrally Planned Economy :

A planned economy is a type of economic system where investment, production and the allocation of capital goods takes place according to economy-wide economic plans and production plans. A planned economy may use centralized, decentralized, participatory or Soviet-type forms of economic planning.

Mixed Economy :

an economic system combining private and state enterprise.