Question

. What type of economy would you prefer to live in - traditional, command, market, or mixed? Make sure to justify your opinion with the economic principles you have learned.

Answer 1

Answer:

Market economy is the best to live in

Explanation:

Market system economy is one of the most efficient economy system. The resources in a market economy move itself to the places where they are needed.  Resource allocation is one of the major issue in all other economy types.  

Here in case of market economy, the companies are encouraged by market force to move fast and reallocate their resources thereby making the system more efficient. This further leads to enhanced productivity and innovation.