What are the features of the functioning of the main economic systems?
| November 25, 2020 | education
Traditional economy
1. Based on traditions, highly dependent on the foundations of society
2. Mainly goods are produced to meet their own needs
Market economy
1. Creation of a “market”, free competition
2. The emergence of buyers who generate demand, and it creates supply
Planned Economy
1. Prices and production of goods are controlled by the state
Mixed economy
1. Some of the goods are controlled by the state, and some by manufacturers
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