Use the drop-down menu to select the type of economy that matches the description.

the government decides what is produced, along with how much is produced.

the government controls some aspects of the economy, such as infrastructure and

transportation, while private consumers and producers control the means of production in other areas.

the government has no involvement or decision-making in what or how much is produced.

The correct answer for each of the descriptions is the following:

The Command economyMixed Market EconomyMarket Economy

Explanation:

A command economy is a system where the government, rather than the free market, determines what goods should be produced, how much should be produced, and the price at which the goods are offered for sale. This type of economy matches that of a communist society.The mixed economy refers to an economic model that uses the market to allocate resources, but in which the State intervenes to regulate its operation, incorporates elements of the free market economy and the planned economy, or a proposal in which the private ownership of capitalism and the collective ownership of socialism coexist in order to include broader social considerations in an economic system.Market economy means the organization and allocation of the production and consumption of goods and services that arises from the game between supply and demand. The characteristic that defines the importance of the market economy is that decisions on investment and the allocation of production goods are made mainly through markets and the government has no involvement.

The type of economy that matches the description:

1) The Command Economy

2) Mixed Economy

3) Market Economy

Command Economy, Mixed Economy and  Market Economy:

A command economy is an economic system in which the government, or central planner, decides what commodities and services should be produced, how much of each should be produced, and how much of each should be sold for.A mixed economic system incorporates elements of both fascism and democracy. A mixed economic system offers protection and permits some free markets in capital allocation, but it also enables governments to intervene in economic activity to facilitate social goals.Market forces drive financial choices such as the creation of products and services, investments, marketing, and distribution in a market economy. Free rivalry among market participants is encouraged in a market economy.

For more information about the type of economy refer to the link:

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