The economic system that is considered completely unregulated is the free-market economy. In a free-market economy, the prices of goods and services are determined by unrestricted competition between privately owned businesses, with minimal to no government intervention. This system relies on the principles of supply and demand to allocate resources efficiently.
In contrast:
- A command economy is entirely regulated by the government, which makes all economic decisions.
- A mixed economy combines elements of both free-market and command economies, with some government intervention.
- A traditional economy is based on customs and traditions, often involving subsistence agriculture or barter systems, but it is not entirely unregulated in the way a free-market economy is described.
Thus, the best choice for an unregulated system is the free-market economy.