The three major types of economic systems are _ O collectivism, developed economies, and oligopoly individualism, developing economies, and duopoly ethnocentrism, cultural relativism, and polycentrism O capitalism, planned economies, and mixed economies QUESTION 2 In general, as price of a good or service increases, the quantity demanded: O declines O remains the same irrespective of the product type. increases O first increases and then decreases irrespective of the product type. AICTION 2