Economies can be broadly categorized into several types based on their structure and the way they function. Market economies are driven by supply and demand, with minimal government intervention, allowing businesses and consumers to make most economic decisions. Command economies, on the other hand, are centrally planned and controlled by the government, which makes all decisions regarding production and distribution. Mixed economies combine elements of both market and command economies, featuring a blend of private enterprise and government regulation. Traditional economies rely on customs, traditions, and beliefs to shape economic activities, often found in rural and agricultural communities. Each type of economy has its own advantages and challenges, influencing how resources are allocated and how economic growth is achieved.