What are the three basic economic systems?

Capitalist system, Socialist system, and a mixed system

Explanation:

Of course, this division is for didactic purposes. An economic system can arrange one of the three main ideologies or all of them. The most important point to consider here is to understand each one, especially what means a mixed system. The Capitalist system is based on the private ownership of the means of production and their for-profit operation. On the other hand, the Socialist system tries to fight against this idea proposing to build a society characterized by equal opportunities and means for all individuals, with an isonomic method of compensation. Once again, this is just a quick answer about two systems that are complex to understand, and needs a deep reading. Anyway, what is a mixed system? It is a form of economics that combines two or more distinct economic models. In most cases, these are more specific patterns or models, hybrid variations of a system.

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