Free market Economy: This is a free economy with liberal trade zones. Individuals, firms, and manufacturers are responsible for their finances and production. Research shows that it leads people to a healthy economic growth rate.n2. Command Economy: The state and central government form trade policies and take production and financial decisions. It may materialise in some sectors of the country but may take a toll on the general public.n3. Mixed Economy: A mixed economy combines free-market and command economies. It is the most common type of economy seen globally and in democratic countries.