BY:Tiasiah Henley

command economy: is a a more centralized economy,one in which government planning groups.
traditional economy: is an economy in which most economic decisions that are made are based on custom and on the habit of how such decisions were made in the past.
market economy:an economy in which a soceitys economic are made by individuals who decide what to produce and what to buy.

A Command economy a central planning group would decide the workers. no indviiduals could decide to start a new business on his or her own. the government would also decide what jobs the workers would do and how and where the goods produced would be sold.

A Traditional economy things are done as they have been in the past. the economic system in which recourses are allocated by inheritance, and which strong social network and is based on primitive methods and tools. it is strongly connected to subsistence farming.

Market Economy consumers are in charge and make economic decisions by spending money on goods and services they need/want. in a market economy, national and stte governments play a minor role. consumers and their buying decisions drive the economy. the assumptions of the market play a major role in deciding the right path for a country's economic development.


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