Answer:
Four types of Economies: Free market, Command, Traditional and Mixed markets. Market Economies have a few disadvantages.
Explanation:
Four types of Economies: Free market, Command, Traditional and Mixed markets.
A Free Market is when everything is based on supply and demand but has barely any to no governmental influences.
A Command economy can have a lack of efficiency or competition. It can even have a lot of unemployment or even inequality.
In Traditional Economies, people rely on the land and the oceans or any large body of water. The land lets them grow crops and have herds of cattle for meat and dairy. They use animals for their meat and for their fur which keeps them warm during winter. They use them to make clothes, blankets, and pouches for water or other liquids. And the bodies of water for the fish, drinking, and/or bathing in. The disadvantage of this is that at any given moment things can change. The waters could be poisoned, the herds could move on or the soil could be unfertile so the crops will die out and then they won't have anything left. and that leaves the people with hunger, thirst, and if they don't leave as well then death.
In Mixed Economies, they tend to have more governmental influence than individual freedoms. Sometimes the taxes are so bad that people become broke and lose everything like their house and family so they won't be able to support them at all. Make sense?
