Define, and cite examples of these economies: market, command, traditional and mixed.

Market economy- a free market economy is also known as pure capitalism. the economy is solely run by private businesses with no government intervention. an example of a free market would be america or britain around the industrial revolution. businesses were growing fast and it took the government probably longer than it should have to regulate these private businesses.

command- a command economy is the opposite of a market economy, it’s when the government is completely in control of the economy with no privatized businesses. an example of a command economy would be communism, seen in the USSR and China.

traditional- a traditional economy is true to its name and is very traditional. think of bartering, trading goods and services for goods and services instead of a standard currency. an example of a traditional economy would be ancient civilizations, think Native Americans in particular.

mixed- a mixed economy is probably the most common in modern day. a mixed economy is when private businesses and the government both control aspects of the economy. businesses out of products and employ people while the government regulates work hours and condtions, as well as what they can sell. an example of this would be modern day america and western europe.

hope this helps!!