Types of Economic System

Any country needs a proper economic system in order to run efficiently and effectively as it at the core of any society and country. There are 4 economic systems namely traditional, planned, market and mixed economy which countries follow all over the world, given below are the advantages and disadvantages of all types of economy system in order to have a better understanding about all the economic system

  1. Advantages and Disadvantages of Traditional Economy
  2. Advantages and Disadvantages of Planned Economy
  3. Advantages and Disadvantages of Mixed Economy
  4. Advantages and Disadvantages of Market Economy
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