I can breathe, I'm glad there is no pollution on this side
In a Mixed Economy, it is a mixture of both market and command economies meaning they have aspects of both capitalism and socialism. An advantage is it is mostly private owned businesses. A disadvantage is it runs risks of more poverty.
The king says no, you cannot have your own business.
You get what we give you.
In a Market Economy, it offers more economic freedom, while encouraging competition. An advantage is it is easily accessible to consumers. A disadvantage of this is it leads to monopolies.
In a Traditional Economy, it is based on customs and traditions; farming, hunting, gathering. An advantage is individual trade and is good for the environment. A disadvantage is society is at a stand still
In a Command Economy, the government controls the production of everything and does not meet the needs and wants of consumers. A disadvantage is it is government controlled. A advantage is there is low rates of unemployment.