Traditional Economy: Sense of security., Little use of technology., Customs and culture determine what is made and sold., Provide "just enough" to meet basic needs., Command Economy: The government decides what to make and sell., Changes take place quickly due to government control., Salary equality., Mixed Economy: If a business fails, there is no one to help., Individuals have the best chance to gain wealth., Leads to choice/variety in the marketplace., Businesses are more likely to take advantage., Driven by people competing to earn profits.,

Types of Economies

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