The central problem of an economy refers to the allocation of scarce resources to fulfill infinite wants and needs. Different economic systems address this problem in various ways. Let's explore how the central problem of an economy is solved under different economic systems:

1. Market Economy:
In a market economy, the central problem is primarily solved through the forces of demand and supply in the market. The key features include:

- Private ownership: Resources are owned by individuals or businesses.
- Price mechanism: Prices are determined by the interaction of demand and supply.
- Consumer sovereignty: Consumers have the power to determine what is produced through their purchasing decisions.

2. Command Economy:
In a command economy, the central problem is solved through central planning and government control. The key features include:

- Public ownership: Resources are owned and controlled by the state.
- Central planning: The government determines what, how, and for whom goods and services are produced.
- Limited consumer choice: Consumers have limited freedom in choosing what to consume.

3. Mixed Economy:
A mixed economy combines elements of both market and command economies. It attempts to strike a balance between individual freedom and government intervention. The key features include:

- Private and public ownership: Resources can be owned by both individuals and the state.
- Market forces and government intervention: The market determines most economic activities, but the government intervenes in certain sectors to address market failures.
- Consumer choice and social welfare: Consumers have the freedom to make choices, but the government aims to ensure social welfare and equity.

4. Traditional Economy:
In a traditional economy, the central problem is addressed based on customs, traditions, and cultural norms. The key features include:

- Subsistence production: Goods and services are produced to meet the basic needs of the community.
- Barter system: Exchange of goods and services is often based on a barter system.
- Limited technological advancement: Traditional economies often rely on age-old methods of production.

By following these different approaches, economic systems attempt to solve the central problem of an economy. It is important to note that each system has its advantages and disadvantages, and the choice of economic system depends on the values, goals, and priorities of a society.