ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Free enterprise and free trade zone match ____
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traditional
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command
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market
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mixed
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Explanation:
Detailed explanation-1: -Free enterprise, or the free market, refers to an economy where the market determines prices, products, and services rather than the government. Businesses and services are free of government control.
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: -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.