2. How do a traditional economy, a market economy,

a command economy, and a mixed economy differ?

Explanation: Traditional Economy is the economy in which the cultures, beliefs and traditions of a society dictate the production of goods and the services to be Made available.

Market Economy is the economy where the forces of demand and supply dictate the production and services to be rendered to the people. There is little or no government control in the market economy.

Command economy is the economy that the government dictate the production of goods and services to be made available to the people. Government activities is highly recognized in a command economy.

Mixed economy is an economy in which both private and public intervention in the production of goods and services is required.