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Types of Economies (Free market (supply and demand decide things, based…
Types of Economies
Free market
supply and demand decide things
based off of competition
owned by private officials
none
owned by private officials
mixed economies
most economies are mixed
The United states is a mixed economy
public makes some decisions for the government
businesses help make decisions
decisions are shared
traditional economie
no trade with other countries
based on tradition
do what their parents did
none
very small
command economies
also called centrally repaired
there is no choice
government makes decisions
government owns resources
North korea
