Question

Which of the following is not one of the three major types of economies? pure command pure market traditional modern

Answer 1

Answer:

modern

Explanation:

An economic system refers to organizing and distributing existing resources, services, and goods through communities or governments through a specific area or nation. Economic structures control production factors, including money, labor, physical resources, etc. three major types of the economic system includes pure command, pure market, and traditional economic system. The traditional economic system is based on a number of established rituals, customs, or trends. There is an influential, centralized authority in the command system, and market economic systems are based on the notion that there would be very little interruption from the government.