ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The four main types of economic systems are a pure market economy, a pure command economy, a mixed economy, and a traditional 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: -There are three main types of economic systems: command, market, and mixed. We will briefly describe each of these three types.

Detailed explanation-4: -There are 3 types of economic systems, namely mixed economy, capitalist economy, and socialistic economy.

Detailed explanation-5: -Traditional economic system. Command economic system. Centrally planned economic system. Market economic system. Mixed economic system. 22-Feb-2021