Types of Economies
Blake Hodge and Colton Green
The most traditional and ancient type of economy in the world.
The most notable feature of a command economy is that a large part of the economic system is controlled by a centralized power. This is a federal government.
The advantage to capitalism is you can have an explosive economy that is very well controlled and relatively safe.
It primarily refers to a mixture of a market and command economy. For obvious reasons, a traditional economy does not typically mix well.