ECONOMICS
CONSUMERS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The most rigid and least responsive to change.
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Command
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Traditional
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Market (Mixed)
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None of the above
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Explanation:
Detailed explanation-1: -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-2: -There are three main types of economic systems: command, market, and mixed. We will briefly describe each of these three types.
Detailed explanation-3: -A mixed economy combines the advantages and disadvantages of three different types of economies: market, command, and traditional economies. It’s the most flexible system.
Detailed explanation-4: -Belarus. Cuba. Iran. Libya. North Korea. Russia.
There is 1 question to complete.