What are the three types of post-industrialization economies?

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The classification of economies into three types following industrialization is best represented by command, market, and mixed economies.

A command economy is characterized by significant government control over economic activities, including production and distribution decisions. In contrast, a market economy operates on the principles of supply and demand, where prices are determined by the interactions of consumers and producers. A mixed economy incorporates elements from both command and market systems, combining government intervention with free market principles to various extents, allowing a more balanced approach to economic management.

The other options do not align with the criteria for post-industrial economies in terms of their structure or mechanisms. Capitalist, socialist, and traditional refer to broader economic systems rather than specific economic structures that follow modernization. Similarly, developed, developing, and undeveloped categorize economies based on their level of industrialization, but not how they function. Primary, secondary, and tertiary are classifications of economic sectors rather than types of economies. Thus, focusing on command, market, and mixed economies accurately reflects the variations seen in post-industrialization.

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