Question

what are the three types of economy at the global level ?write about its
features​

Answer 1

Answer:

Types of Economy: It is said that every economy in the world is unique in some way or another. No two economies are identical. However, these economies do share many of the same features and characteristics. So economists have been able to identify four different types of economy – traditional economy, command economy, market

PLZ MARK AS BRAINLIEST

Answer 2

Explanation:

Types of Economy

I. Traditional Economy

A traditional economy, as the name suggests, is based on a traditional approach. These economies are based on ancient rules and are the most basic type of economy. The focus in a traditional economy is only on the goods and services that match their customs, beliefs, and history.

Such traditional economies tend to focus primarily on agriculture, cattle herding, fishing etc. A traditional economy will use the barter system and has no concept of currency or money. Their economies center around their tribes or families. Such economies believe in only producing what and how much they require. They find no need to produce any market surplus. There is no concept of trading.

If such traditional economy does not adapt it becomes very vulnerable to change in their environment. Once such economies evolve they begin to adopt farming. They even trade their surplus crop and start evolving from this traditional economy. And when a traditional economy interacts with a market or a command economy it becomes a traditional mixed economy.

Then money (currency) starts to take importance in their lives as well. This type of traditional economy is suited to underdevelop and developing economies. Even today such economies can be found in some pockets of Africa and the Middle East.