Wow, I can offer my employees family and medical leave with government assistance?
Usually, I hunt and he farms. The world pretty much leaves us alone, except when they're stealing our resources!
I wanna wear the green shirt!
A mixed economy is one that is a combination of a command economy and a market economy. This is the economic system that allows free entrepreneurship, but also government intervention. The United States is known for this kind of system. It is seen as the best system because people get what they want, but the government can intervene when necessary.
Nobody wants to open a McDonald's. Fish and apples for lunch?
A traditional economic system is one that is based off customs and traditions. It is mostly found in second and third world countries. This system offers self sustainability, but, and incapability of producing surplus.
A command economy is one that is government controlled; everyone gets the same things. Usually, this system is adopted by communist countries. An issue with this system is that people don't have the freedom to get what they want, they only get necessities. The good thing, though, is job distribution.
A market economy is one where businesses and entrepreneurs control the economy. In the early 1900's, America adopted this system. This system allows for a diverse group of product to circulate, but, also allows for unlimited power of business, which can end in monopolies.