Command Economy: A command economy is an economic system where the government has complete control over what is produced, how it is produced, and for whom it is produced.
Market Economy: A market economy is an economic system where decisions regarding production and distribution are based on the interactions between buyers and sellers in the marketplace.
Mixed Economy: A mixed economy is an economic system that combines elements of both command and market economies. In this system, some industries are controlled by the government while others operate through private enterprise.