match each type of economic system to the phrase that best describes it. an economy that allows free…

match each type of economic system to the phrase that best describes it. an economy that allows free interaction an economy that preserves old customs an economy completely controlled by the government an economy with as little regulation as possible pure market economy mixed market economy traditional economy

match each type of economic system to the phrase that best describes it. an economy that allows free interaction an economy that preserves old customs an economy completely controlled by the government an economy with as little regulation as possible pure market economy mixed market economy traditional economy

Answer

Brief Explanations:

A pure market economy allows free - market interaction and has as little regulation as possible. A traditional economy preserves old customs. An economy completely controlled by the government doesn't match these two, and is more characteristic of a command economy, but among the given options, it doesn't neatly fit the provided economic systems. A mixed - market economy has elements of both free - market and government regulation, but the description "an economy with as little regulation as possible" is more fitting for a pure market economy.

Answer:

  • Pure market economy: An economy that allows free interaction, An economy with as little regulation as possible
  • Mixed market economy: (No perfect match among given descriptions)
  • Traditional economy: An economy that preserves old customs