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how many type of economic

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how many type of economic

    • Posted by S Singh 5 years, 5 months ago

    CBSE > Class 12 > अर्थशास्त्र
    • 1 answers

    Yogita Ingle 5 years, 5 months ago

    TYPES OF ECONOMY

    Centrally planned economy

    • It is the economic system where all the decisions are made by the government and not by the interaction between consumers and business.

    Market Economy

    • Market Economy is free economy in which central problems are solved by the market forces of demand and supply.

    Mixed Economy

    • Mixed Economy=Planned Economy + Market Economy.
    • Central problems are not only taken on the basis of social considerations but also on the basis of social considerations E.g. India/US are some of the examples of Mixed economy
    • It is also known as dual economy.

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