Types of economics

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Types of economics

Posted by Rashi Mishra 3 years, 9 months ago

ICSE & ISC > Class 11 > Economics

2 answers

Surya Rai 3 years, 8 months ago

Two types macro and micro economics

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Meghna Thapar 3 years, 9 months ago

Adam Smith was an 18th-century Scottish economist, philosopher, and author, and is considered the father of modern economics. The way scarce resources get distributed within an economy determines the type of economic system. There are four different types of Economic Systems; a traditional economy, a market economy, a command economy, and a mixed economy. Each type of economy has its own strengths and weaknesses.

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