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Economy Types :-)
the 4 major economy types (part of culture)
Question | Answer |
---|---|
What is a Traditional Economy? | It relies on community and family. Rituals and customs make choices. |
What is a Market Economy? | It relies on consumers or individuals who choose what they consume. |
What is a Command Economy? | It relies on government to make decisions. |
What is a Mixed Economy? | It is a market economy that has some government involvement. |