ECONOMICS
CONSUMERS
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
The most rigid and least responsive to change.
|
Command
|
|
Traditional
|
|
Market (Mixed)
|
|
None of the above
|
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.