What is Economy
Economics is a social science that studies how to properly use limited resources in order to satisfy unlimited human needs.
Types of economy
The type of a country's economic system is determined by how resources are allocated in that economy. There are four different types of economics.
Traditional type of economy
This system is the oldest type of economy in the world and many countries of the world still operate according to it. These are mainly countries of the second or third world, and are closely linked to the land, usually through agriculture. Often, with this type of economic system, a country's surplus is rare (often the country spends more than it receives). It often happens that these societies do not have access to technology and modern medicine.

Team type of economy
The command economic system is also called "centralized". This economy was another foundation of communist philosophy.
Centralized power controls a significant part of the economic system, that is, most of the management decisions are made by the central government (for example, as was the case in the USSR).

Market type of economy
This type is considered a free market economy, where firms and households act in their own interests. Thus, it is determined: how to allocate resources, what goods to produce and who buys them. This type of economy is the opposite of a command economy (when the central government makes a profit).
In this type of economy, there is a separation of government and market. In theory, there is no government intervention in a pure market economy. However, this is not the case, there is no truly absolutely free market economy in the world.
Mixed economy
Economics is
Economics is a fairly broad concept of economic management that should be viewed in several different ways. Each of them allows you to separately understand the essence of each function of the economy.
Economy levels

Micro- and macroeconomics are considered the most important, but the following levels are often distinguished:

-megaeconomics (activities in the world economy, i.e. the world economy);

-macroeconomics (the activity of the national economy as a whole);

-mesoeconomics (activities in intermediate systems or sectors of the national
economy; industries and regions; for example, the military-industrial complex);

-microeconomics (activities of individual economic agents; for example, firms);
nanoeconomics (activity of one individual).
Economy as an economy
The economy as an economy is a management system that provides society with benefits of a different nature; includes branches of material production (industry, transport, etc.) and non-material sphere (culture, education, etc.).
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