Economy, asked by mercysuantak8, 7 months ago

what is meant by an economy? Explain the different types of an economy​

Answers

Answered by ranjitselvand
2

Answer:

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.

Explanation:

Answered by taehyung21
1

Answer:

Economic systems can be categorized into four main types: traditional economies, command economies, mixed economies, and market economies.

Traditional economic system. ...

Command economic system. ...

Market economic system. ...

Mixed system.

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