what is economy ? breifly explain the types of economies
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This module introduces the three major economic systems: command, market, and mixed. We'll also discuss the characteristics and management implications of each system, such as the role of government or a ruler/ruling party....
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An economy is a system whereby goods are produced and exchanged. Without a viable economy, a state will collapse. There are three main types of economies: free market, command, and mixed. The chart below compares free-market and command economies; mixed economies are a combination of the two.
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