Final answer:
Societies can be classified as traditional, command, or market-oriented economies. Traditional economies are based on customs and traditions, command economies are characterized by government control, and market-oriented economies rely on supply and demand.
Step-by-step explanation:
Societies can be classified on the basis of their economy as traditional, command, or market-oriented economies. Traditional economies are based on customs, traditions, and rituals, where economic decisions are guided by social norms.
One characteristic of traditional economies is that they often have subsistence agriculture, where people produce enough to meet their basic needs.
Command economies are characterized by centralized planning and control by the government. One characteristic of command economies is the government's control over the allocation of resources and production decisions.
Market-oriented economies, also known as capitalist economies, rely on the forces of supply and demand to determine the production, distribution, and consumption of goods. One characteristic of market-oriented economies is the presence of private ownership of resources and businesses.