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Archy [21]
1 year ago
5

Compare and contrast the four types of economic systems. Write 3-5 sentences.

Social Studies
1 answer:
Lapatulllka [165]1 year ago
3 0

The four types of economic systems are;

1. Traditional Economic system

2. Socialist or  Command Economic system

3. Capitalist  or Market Economic system

4. Mixed Economic system

<h3>What is an Economic System?</h3>

An economic system is said to be a kind of a system where there is seen a network that create the economic association that exist between individuals in society.

Note that it deals with the way that  people of a place come together to form a complex whole and carry out economic transactions.

Hence, The four types of economic systems are;

1. Traditional Economic system

2. Socialist or  Command Economic system

3. Capitalist  or Market Economic system

4. Mixed Economic system

Learn more about economic systems from

brainly.com/question/491016

#SPJ1

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