The most common economic system in the world is a?

The most common economic system in the world is a mixed economy. Mixed economies are combinations of market and command economies.

There are many economic systems such as traditional, command, market and mixed market. The most common economic system in the world is a mixed economy.

1. The traditional system is when people grow their own food and make their own goo, the economy rely on agriculture, fishing and hunting. Trading in traditional economic doesn't use money but barter. This system is no longer use.

2. The command system is when the government controls the economic activities. The government makes all economic decisions  including prices and production.

3. The market system is when the economy fully controlled by the power of demand and supply. The government has no right to impose regulations on the market such as wages and prices.

4. A mixed economy is when the government and private sectors both work together to sustain the economy. A mixed economy is a combination of command and market system .

The goals of command and mixed market economies

The most common economy system

A transitional economy

Keywords: mixed market, the most common economic system, a command system, a transitional economy

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