Economic Systems
By : Tiara Sampson
Traditional Economy
In a traditional economy most of the economic decisions that are mad are based on custom and on the habit of how such decisions were made in the past .
Command Economy
A command economy is a more centralized economy , one in which government planning groups make most of the basic economic decisions for the workers .
Mixed Economy
Nearly all modern economies in the world today have characteristics of both market and command economic systems . That is why they are called mixed economies .