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Characteristics of Economies
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Gravity
Characteristics of command, traditional, market, and mixed economy.
Terms in this set (4)
Traditional Economy
An economy where the economic questions are answered in the same way they always have been answered for generations in the past
Command Economy
An economy where the government answers all of the economic questions
Market (Free Enterprise) Economy
An economy where the people answer all the economic questions and there is limited government involvement
Mixed Economy
An economy that is not definitive of one kind or another, but mostly one kind with a little bit of another
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