Question

Match each type of economic system to the phrase that best describes it

Answer 1

Hey there!

A pure market is where the government has little to no government control. It is similar to laissez-faire, meaning hands off, where the government just lets it run, which was instituted in the U.S. by Martin van Buren, although it failed.

A command economy is the complete opposite of the pure market economy. This is where the government completely controls the economy. Communism is a command economy.

If something is traditional, they follow traditions, or follow customs that have been in place for a long time, and a traditional market follows old customs.

A mixed market economy is where free interaction is allowed.

I hope this helps!

Answer 2

Answer:

Traditional Economy - An economy that preserves old customs.

Mixed Market Economy - An Economy with as little regulation as possible.

Command Economy - An economy completely controlled by the government.

Pure Market Economy - An economy that allows free interaction.

Explanation:

Edge 2020