BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

BUSINESS ECONOMICS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
How many types of economies are there?
A
3
B
5
C
4
D
2
Explanation: 

Detailed explanation-1: -At global level there are three types of economies-capitalist, socialist and mixed economy.

Detailed explanation-2: -Each economy functions based on a unique set of conditions and assumptions. Economic systems can be categorized into four main types: traditional economies, command economies, mixed economies, and market economies.

Detailed explanation-3: -The two branches of economics are microeconomics and macroeconomics.

Detailed explanation-4: -Source 5 Key participants in the economy are consumers, producers, the government and financial institutions.

Detailed explanation-5: -There are three main types of economic systems: command, market, and mixed. We will briefly describe each of these three types.

There is 1 question to complete.