Traditional:
Pros: Family support and communal division of resources
Cons: No individuality and dependence upon nature
Free Market:
Pros: Free enterprise and more diversity
Cons: Based on human chance and private property can cause contention
Centrally-Planned:
Pros: Extremely controlled economy and there is an even distribution of goods produced
Cons: It can be taken advantage of and opportunity cost.
economic systems
Traditional, Command, Market, Mixed.
The four types of economic systems are the traditional economy, the market economy, the command economy, and the mixed economy. Of these, the traditional economy is the most basic.
There are four major types of economic systems. This includes the mixed economy, traditional economy, command economy, and market economy.
The four types of economic systems are mixed, traditional, market and command. The economic systems evolves as different societies places different emphasis on different goals.
economic systems
Traditional, Command, Market, Mixed.
The four types of economic systems are the traditional economy, the market economy, the command economy, and the mixed economy. Of these, the traditional economy is the most basic.
Traditional Market Mixed (all 3 combined, but mainly command and market) Command
There are four major types of economic systems. This includes the mixed economy, traditional economy, command economy, and market economy.
The four types of economic systems are mixed, traditional, market and command. The economic systems evolves as different societies places different emphasis on different goals.
the 4 main types of economic systems are: a market economy, a mixed economy, a planed economy, and a traditional economy
The three types of economic systems are centrally planned, traditional, and free market (or capitalist).
Market economy,traditional economy,command economy and mixed economy
The four main kinds of economic systems are; command, market, traditional and mixed.
A mixed economy combines elements of traditional, market, and command economic models to answer the three basic economic questions.
Traditional economic system. The traditional economic system is based on goods, services, and work, all of which follow certain established trends. Command economic system. In a command system, there is a dominant centralized authority – usually the government – that controls a significant portion of the economic structure. Market economic system. Market economic systems are based on the concept of free markets. In other words, there is very little government interference. Mixed system. Mixed systems combine the characteristics of the market and command economic systems. For this reason, mixed systems are also known as dual systems.