Question

1. whats the difference between market, command, and mixed economies? 4.1.2 study: economic systems and change copyright © 2024 apex learning inc. use of this material is subject to apex learnings terms of use. any unauthorized copying, reuse, or redistribution is prohibited. type of economy definition example command market mixed

Explanation:

A command economy is one where the government makes all major economic decisions about production, distribution, and pricing. For example, in the former Soviet - Union, the state decided what goods would be produced, how much, and at what price. A market economy is driven by supply and demand, with private individuals and businesses making decisions about production and consumption. The United States has a largely market - based economy. A mixed economy combines elements of both, with both private and government influence on economic decisions. Most modern economies are mixed, like the UK, where the government provides public services and regulates certain industries while private enterprise thrives in others.

Answer:

Type of economy	Definition	Example
Market	Driven by supply and demand, private - led decisions	United States
Mixed	Combines elements of government and private influence	United Kingdom