ECONOMICS (CBSE/UGC NET)

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: -Different Types of Economies in the World There are four main different types of economies: traditional economies, market economies, command economies, and mixed economies. Although each economy is unique, they all share overlapping features and characteristics.

Detailed explanation-4: -Traditional economic system. Command economic system. Centrally planned economic system. Market economic system. Mixed economic system. 22-Feb-2021