How different economic systems answer the three basic econmic questions Assignment#3

1. The threebasic economics questions are what to produce, how to produce it, and for whom to produce it for?

2. An economic system is the distribution and consumption of goods and services of an economy. The four types of economic systems are the Market Economy, Command Economy, Traditonal Economy, and a Mixed Economy.

3. The Market Economy is controlled by the consumers and producers, the Command econmy is controlled by the goverment, the Traditonal economy is based on what they want, and the Mixed economy is a mixture capitilism and socialism.

4. The United States government regulates their own enterprise in a lot of ways . Traditionally , the government wanted to get rid of monopolies such as Microsoft for putting other softwares out of business.

5. The economic system that fits this category is the traditional economy because the child was doing what he was raised to do and he got rewarded for doing it right.
6. All of the features are apart of the market economy, the only one that is not is the government regulation because it deals with the command economy and the traditional economy deals with themselves.