The three main economic systems are
A) Macro, micro, and mixed economic systems
B) Presidential, parliamentary, and dictatorship
C) Democracy, socialism, and communism
D) Market-based, centrally planned, and mixed economies

Question

Quizplus · Accepted Answer

The three main economic systems are market-based, centrally planned, and mixed economies. Market-based economies rely on supply and demand to determine prices and allocations of resources. Centrally planned economies are controlled by the government, which makes all decisions about the production and distribution of goods and services. Mixed economies combine elements of both market-based and centrally planned systems.

The Three Main Economic Systems Are