Economic systems
Economic systems stay alive to answer the following questions:
– What to produce
– How to produce
– For whom to produce
The main systems are traditional, capitalistic, planned and mixed.
Economic systems
– Traditional- a subsistence economy where needs and wants were fundamental
– Communist (collectivist) – production is planned and all property is owned by the state.
– Capitalist -little or no government have power over. Market forces state what is to be produced, how and for whom.
– Mixed economy—a combination of communist and capitalist economies. Market forces are allowed to function, but government reins and regulates the system.
2 comments
antonio st.rose - September 14, 2013 11:14 am
got some info on tht page
bernelle raveneau - September 25, 2013 12:49 am
jus finish study this fuh my test 2mw