What are the three main type of economic system?

Answer 1

1. What goods and services should be produced? (goverment,producer, consumer)

2. How should these goods and services be produced? (goverment, producer, consumer)

3. For whom should the goods and services be produced?(goverment, producer, consumer)

Answer 2

There are three primary economic systems (all of which have variations). There are the free market, the centrally managed economy, and the mixed economy which has elements of the free market and elements of central management.

Answer 3

There is a socialist economy, where a small group of people decide what and how much is to be produced.
There is the mixed economy, where the government plays a part is keeping the economy stabilized.
There is the free market economy, where trade is solely dependent on the consumers and the producers.

Answer 4

The 3 main type of Economic Systems are:

1. Capitalistic Economy,
2. Socialistic Economy, and
3. Mixed Economy.

Capitalist Economy: A capitalist economy refers to an economy system in which price of goods and services are denominated by private individuals who pool resources to ease production factors like labour and entrepreneur in which the government has little control or intervention.

A capitalist economy are always mandated to profit making. They lack maxima government intervention. In a capitalist system, goods and services are always

Socialist Economy: A socialist economy refers to any economic cum and political system in which the means of production is denominated by the government to cater for the citizen.

Answer 5

There are three basic economic systems in place. These systems include the command economy, the market economy, and the traditional economy.

Answer 6

i think it is socialism, capitalism and communism but im not sure im in 7th grade social studies class and im having troubles on my HW(homework)....

Answer 7

The answer is traditional, command, and market.