Answer :

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Final answer:

A market economy is decentralized, while a command economy is centrally planned. Most economies are mixed, blending elements of both systems.


Explanation:

Market economy is the smallest and most local type of economy where economic decisions are decentralized, resources are privately owned, and businesses supply goods and services based on demand. In contrast, a command economy is where economic decisions are centrally planned and resources are owned by the government. A mixed economy combines elements of both market and command systems, with most real-world economies falling into this category.


Learn more about Types of Economies here:

https://brainly.com/question/41316103
The smallest, most local type of economy is a traditional economy.

A market economy is dependent on voluntary exchange. Therefore, it’s not controlled by a government.


A mixed economy is a mixture of socialism and capitalism.


A command economy is controlled by the government.