Since you love to talk Eddie , what is the market economy ?
.... what the hell does traditional economy means ?
Command economy is when the governments controls the prices , productions , and resources of goods and services.
today in class we was learning about the different economic systems , what you know about the mixed economy?
Market economy is when individuals that offers more econmic freedom that encourages competition and limits the role of the government .
Traditional Economy is based on customs and traditional things such as hunting , farming , and gatherings. In order to get good service and products people often make their own materials, trade, or share. An example would be before the immigration of Europeans in 1492, America had its own traditional economies. .
The Mixed Economy is a mixture market and a command economic system which has characteristics of capitalism and socialism. An example of mixed economy is the United States consists of both private and government/ state owned entitles . ( housing aid, aid for children , etc)