Traditional Economies - This economy system is which people's economic roles are the same as those as there parents and grandparents. This societies produce goods and services are found in parts of the world like South America, Asia And Africa. People that live in agriculture villages still harvest their own foods and also the way they make clothes and make shelter are the same way as there anscestors did way back when.
Centrally Planned (Command) Economy- In this Economy the main decision maker is the government. You can not independently decide to open and run any kind of business without the government permission. They decied what are proudce and sold in these business. The government also decide what type of skilled workers get to work idn the business.
Market Economy- This economic system is one that the nation 's economic desisions are the results of individual decisions by buyers and sellers in the worlds market place. When you finish school you make work where you want to work if the job is open or you can workin your own business. If you open you own business you could risk all the money you saved and borrowed to open up your business and you have to open and pray that you will be sucessful. The prices you charge for goods and services will be influced by the prices charged by your competitors. You success solely depends of the demand by consumers for your goods. You may do well and you made end up going out of business if the people dont like whtat you are selling
Mixed Economy- Thsi economy is mixed between socialism and capitalism. The rules for this economy is always changing because of the lack or principles involved. This economy is a sign of intellectual chaos.
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