A Basic Guide To Different Types Of Economies
How any country manages its money and resources is called an economy. In a traditional economy, people continue to do things as they always have. In a command economy, the government chooses what is produced and sold. Moreover, market economies allow individuals to choose what they produce and buy. Mixed economies are a combination of them. To understand this we take an example. Some nations have more money and are living better than others. Do you know about different types of economies?
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