8. Fill in the chart below and explain how each type of economic systems: traditional, market, command or mixed economies answers the three fundamental questions
8. Fill in the chart below and explain how each type of economic systems: traditional, market, command or mixed economies answers the three fundamental questions of economics. Assess the pro and con of each of different types of economies. (Knowledge: 12 marks; Communication: 12 Marks; Thinking/Inquiry: 8 Marks) Economic What to How to For Whom to Advantage/Disadvantage system produce? produce? produce? Traditional economy Market economy Command economy Mixed economy
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