New Zealand and Australia, both have traditional economies command, economies, market economies, mixed economy
New Zealand and Australia both have mixed economies. A mixed economy combines elements of traditional, command, and market economies. In a mixed economy, there is a combination of private ownership and government intervention in economic activities.
In both countries, the private sector plays a significant role in the economy, with private businesses operating in various industries and sectors. However, there is also government involvement in economic planning and regulation, as well as the provision of public services such as healthcare and education.
Overall, New Zealand and Australia have market-oriented economies with a strong focus on free trade and liberal economic policies. However, the government also plays a role in regulating the economy and providing social welfare programs to support the population.