In a marketeconomy, consumers (buyers) and businesses (sellers) decide what theywant to produce and purchase in the marketplace without any influence orinterference from a government or other outside body.
A traditional economy is a system where traditions, customs, and beliefs shape the goods and products the society creates
In a command economy, alsoknown as a planned economy, the government largely determines what is producedand how much of that product is produced.
In a market economy, most of the economic decisions are made by individuals. Businesses operate without the government dictating what they will produce. Consumers purchase things for themselves without waiting for the government to assign them goods.
A traditional economy is a system that relies on customs, history, and time-honored beliefs. Tradition guides economic decisions such as production and distribution.
Command economies have very little economic freedom, and individual citizens are rarely able to make their own choices. Countries like Russia, Cuba, China, and North Korea are all example of command economies.
Are The people flowing my Orders?!
My Family gets to choose, where we live, where to shop, what we want to do, and also where we want to work in the future. Due to this 50 / 50 divided style, we can have representation but not and over powering or controlling government.
I love my Job!
Traditional economies depend on agriculture, fishing,hunting, gathering, or some combination of the above. They use barter instead of money.
I see food!
The President controls what laws are going to be enforced for us citizens to follow.