Various economic systems exist with different levels of government involvement and market freedom. A market economic system is characterized by minimal government intervention, where the market operates independently, leading to greater economic freedom and efficiency.
While a mixed economy can lead to incredible results , it can also suffer from similar downfalls found in other economies.
In the most common types of mixed economies, the market is more or less free of government ownership except for a few key areas.
Its a combination of economic systems,but it primarily refers to a mixture of a market and command economy.
Market Economic System
the biggest advantage to a market economy (at least, outside of economic benefits) is the separation of the market and the government.
The government does not control vital resources, valuable goods or any other major segment of the economy.
Command Economic System
command economy is capable of creating a healthy supply of its own resources and it generally rewards its own people with affordable prices (but because it is ultimately regulated by the government, it is ultimately priced by the government).
Often the government will own everything involved in the industrial process, from the equipment to the facilities.
large part of the economic system is controlled by a centralized power.
Traditional Economic System
controlled by wealthier economies, often by force.
closely tied to the land, usually through farming.
would never see the type of profit or surplus that results from a market or mixed economy.
